Lynne Bolduc, Attorney-at-Law
Natalie FitzGerald, Attorney-at-Law
The Results Posted in the Daily Journal Publication:
FAILURE TO PERFORM DUE DILIGENCE AND FAILURE TO DISCLOSE SUITABILITY
Arbitration: Mixed Result
Case/Number: Rosemary Perera, individually and on behalf of her IRA v. Madison Avenue Securities, LLC, Syndicated Capital Inc. / 16-03273
Court/Date: FINRA / August 10, 2018
Arbitrator: Alan M. Rosen
Claimant – D. Daxton White (White Law Group)
Respondent – Marc S. Ehrich (Winget Spadafora Schwartzberg) for Madison Avenue Securities; Natalie N. Fitzgerald (Fitzgerald Yap Kreditor LLP) for Syndicated Capital Inc.
Facts: Rosemary Perera sued Madison Avenue Securities and Syndicated Capital in relation to her investment in Adageo Energy Partners LP and Behringer Harvard Real Estate Investment Trust.
Claimant’s Contentions: Perera asserted causes of action for failure to perform due diligence, failure to disclose; suitability; common law fraud (misrepresentations); breach of fiduciary duty; negligent failure to supervise; and negligence.
Respondent’s Contentions: Madison Avenue and Syndicated Capital denied the allegations.
Result: Perera settled with Madison Avenue. The Panel granted Syndicated’s motion to discuss pursuant to Rule 12206 of the Code of Arbitration Procedure because the claim was over six years old.
Arbitrators: Alan M. Rosen, presiding chairperson; Richard J. Stall Jr.: Barry A. Fisher.
Filing Date: November 1st, 2016.
Contact an Orange County Securities Lawyer for Assistance with Legal Matters in Securities Law
If you need assistance with securities law in Orange County, please contact Natalie FitzGerald or Lynne Bolduc at (949) 788-8900.