Summary: Claimants asserted the following causes of action: breach of fiduciary
duty, unauthorized trading, negligence, breach of contract, fraud, misrepresentation,
failure to supervise, negligent supervision, negligent hiring, and violation
of FINRA rules. Claimants allege the actions related to various stocks
Relief requested: In the Statement of Claim, Claimants requested compensatory damages in
the amount of $150,000.00, punitive damages, interest, costs, attorneys’
fees, and such other damages the Panel deems appropriate.
Result: Attorney Martin Unger of Wexler Burkhart Hirschberg & Unger, LLP successfully
defends respondent and broker/dealer Network 1 Financial Securities Inc.
in suitability case. Claimants damages, fees, and awards denied in entirety.