ARBchek - Arbitrator Research Base

1. Shaik v. Pruco Securities FINRA ID #23-02474 (Jersey City, NJ, 2024-04-25) – A Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss with prejudice pursuant to FINRA Rule 13504(6)(c) (Res Judicata) as Cs has previously litigated the same claims and is barred under the Rule. The Panel also found that the allegations in the Statement of Claim occurred in 1997 well beyond the six-year eligibility period pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes).

2. Jensen v. Bednarek FINRA ID #23-01910 (Philadelphia, PA, 2024-04-25) – In this small claims arbitration, a customer alleging mismanagement with respect to bonds in a Cash Management Account loses his case against Respondent broker after the Arbitrator finds the customer had full control over his investments at all times and said broker was not acting in a fiduciary capacity.