29,453 @ 10:13 last 30 days
Jello Mayor Burke,
Did
you see the case against Robert A. Maiocco on the FINRA site?
Medford cannot afford to have anyone like Mr. Maiocco (or Mr. Roy E.
Belson) near access TV after the farce that was Medford Community
Cablevision, Inc., as you well know.
You
aren't intent on hiring Mr. Maiocco, are you? What a hack
Administration that would be, and would probably be cause for a RECALL
OF THE MAYOR and an investigation. You now know that Maiocco does not
have the character to be hired at Medford City Hall.
What
a waste of time and money Mr. Maiocco's actions appeared to have caused
- and it is just one of multiple cases filed against Robert A. Maioocc
over the years. Why did Nell Escobar Coakley never alert the citizens
of Medford to what a charlatan Maiocco was at Wells Fargo...he certainly
would never have been voted on as Council President had the Medford
Transcript done its job
It's
a crazy as Fred Dello Russo, Jr. trying to allow Adam Knight's motion
to supersede a motion to table which is not up for debate.
Wasn't
Mr. Dingolo the good friend of Robert Maiocco's? We can't allow that
screwball who threatened a citizen with a dirty metal pipe (as council
president) to get his suspicious person hired at the hack-fest that you
call an Administration. It would be a DERELICTION OF DUTY, Stephanie,
since I am now apprising you of this lunacy by Robert A. Maiocco
Look at this madness:
Case Number: 10-03416
RELIEF REQUESTED
In the
Statement of Claim, Claimants requested
compensatory damages in the amount of $1,800,000.00, punitive damages in
the amount of $3,600,000.00, attorneys' fees, costs, expenses,
pre-judgment and post-judgment interest, and such further relief as the
Panel deems just and proper.
At the close of the hearing. Claimants requested compensatory damages between $820,077.00 and $1,205,538.00.
Look at the LENGTHY of the hearings below. Medford doesn't need this:
Pre-Hearing Processing Fee
Award
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FINRA Dispute Resolution
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In the Matter of the Arbitration Between:
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Claimants
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Case Number: 10-03416
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Robert S. Dingolo
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Dianne Dingolo
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vs.
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Respondents
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Hearing Site: Boston, Massachusetts
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Robert Alexander Maiocco
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Wells Fargo Advisors, LLC
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Nature of the Dispute: Customers vs. Member and Associated Person
REPRESENTATION OF PARTIES
For Claimants Robert S. Dingolo ("R. Dingolo") and
Dianne Dingolo ("D. Dingolo"): R. Alan Fryer, Esq., The Badger Law Group
LLP, Boston, Massachusetts.
For Respondents Robert Alexander Maiocco ("Maiocco")
and Wells Fargo Advisors, LLC ("Wells Fargo"): Christopher P. Litterio,
Esq., Ruberto, Israel & Weiner, P.O., Boston, Massachusetts.
CASE INFORMATION
Statement of Claim filed on or about: July 27, 2010.
Dianne Dingolo signed the Submission Agreement: July 27, 2010.
Robert S. Dingolo signed the Submission Agreement: July 27, 2010.
Statement of Answer filed by Respondents on or about: October 1, 2010.
Wells Fargo Advisors, LLC signed the Submission
Agreement: September 28, 2010. Robert Alexander Maiocco signed the
Submission Agreement: September 30, 2010.
CASE SUMMARY
Claimants asserted the following causes of action:
breach of contract, breach of fiduciary duty, unsuitability, fraudulent
misrepresentation, negligence, breach of duties, violations of 15 U.S.C.
78 j (b) and 781 (a), Massachusetts General Laws Chapters 110A §s 410
(a)(2), 410 (b) and 93A, agency liability, failure to supen/ise, and
respondeat superior.
The causes of action relate to options and margin trading.
FINRA Dispute Resolution
Arbitration No. 10-03416
Award Pace 2 of 4
Unless specifically admitted in their Answer,
Respondents denied the allegations made in the Statement of Claim and
asserted various affimnative defenses.
RELIEF REQUESTED
In the
Statement of Claim, Claimants requested
compensatory damages in the amount of $1,800,000.00, punitive damages in
the amount of $3,600,000.00, attorneys' fees, costs, expenses,
pre-judgment and post-judgment interest, and such further relief as the
Panel deems just and proper.
At the close of the hearing. Claimants requested compensatory damages between $820,077.00 and $1,205,538.00.
Respondents requested that the Statement of Claim be
dismissed in its entirety and that Respondents be awarded their costs
and attorneys' fees.
OTHER ISSUES CONSIDERED AND DECIDED
The Arbitrators acknowledge that they have each read the pleadings and other materials filed by the parties.
The parties have agreed that the Award in this matter
may be executed in counterpart copies or that a handwritten, signed
Award may be entered.
AWARD
After considering the pleadings, the testimony and
evidence presented at the hearing, the Panel has decided in full and
final resolution of the issues submitted for determination as follows:
1. Respondents are jointly and severally liable for
and shall pay to Claimants compensatory damages in the amount of
$289,000.00 plus interest at the rate of 5% per annum from July 27, 2010
until payment of the Award in full.
2.Respondents
are jointly and severally liable for and shall pay to Claimants
attorneys' fees in the amount of $81,882.52 pursuant to the Federal
Arbitration Act.
3.Any and all relief not specifically addressed herein, including punitive damages, is denied.
FINRA Dispute Resolution
Arbitration No. 10-03416
Award Page 3 of 4
FEES
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Pursuant to the Code, the following fees are assessed:
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Filing Fees
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FINFRA Dispute Resolution assessed afilingfee* for each claim:
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Initial Claim Filing fee
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=$ 1,800.00
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*The filing fee is made up of a non-refundable
and a refundable portion. FINRA Dispute Resolution preliminarily
deferred the initial claim filing fee. At the conclusion of this matter,
the Panel determined to waive the fee.
Member Fees
Member fees are assessed to each memberfirmthat is a
party in these proceedings or to the memberfirmthat employed the
associated persons at the time of the events giving rise to the dispute.
Accordingly, as a party. Wells Fargo Advisors, LLC is assessed the
following:
Member Surcharge
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=$ 3,350.00
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Pre-Hearing Processing Fee
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=$ 750.00
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Hearing Processing Fee
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=$ 5,500.00
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Hearing Session Fees and Assessments
The Panel
has assessed hearing session fees for each
session conducted. A session is any meeting between the parties and the
arbitrators, including a pre-hearing conference with the arbitrators,
that lasts four (4) hours or less. Fees associated with these
proceedings are:
One (1) Pre-hearing session with a single arbitrator @ $450.00/session
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= $ 450.00
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Pre-hearing conference:
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August 24, 2011
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1 session
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One (1) Pre-hearing session with the Panel @ $1,200.00/session
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=$ 1,200.00
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Pre-hearing conference:
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May 17, 2011
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1 session
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Eleven (11) Hearing sessions @ $1,200.00/session
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=$13,200.00
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Hearing Dates:
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December 5, 2011
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2 sessions
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December 6, 2011
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2 sessions
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December 7, 2011
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2 sessions
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December 8, 2011
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2 sessions
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February 2, 2012
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2 sessions
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February 3. 2012
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1 session
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Total Hearing Session Fees
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= $14,850.00
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The Panel has assessed $7,425.00 of the hearing session fees jointiy and severally to Claimants.
The Panel has assessed $7,425.00 of the hearing session fees jointiy and severally to Respondents.
All balances are payable to FINRA Dispute Resolution and are due upon receipt.
FINRA DlaputB Resolution
ArbilrallonNa 1003416
AWIKlPaq<1tf4
ARprTRATIQN PANEL
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Sandor I. Rabkin
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Public Arbitrator, Presiding Chairpereon
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Thomas P. Bowman
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Public Aibitrator
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Thomas J. Nash
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Non-Public Arbitrator
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i. the undersigned Arbitrator, do hereby affirm that I
am the indivkJuai described herein and who executed this instrument
which is my award.
Concurring ArbHrators' Sionaturss
«3 3.
Sandor I. Rabkin
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Signatutv Date
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Public Arbitrator, Preskiing Chairperson
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Thomas P. Bowman
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Signature Date
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Publk: Arbitrstor
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Thomas J. Nash
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Signature Date
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Non-Public Arbitrator
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February 14, 2012
Date of Sen/ice (For FINRA Dispute Resolution office use only)
FINRA Otsputa Resolution
Arbitration No. 10-03416
Award Pace 4 of 4
ARBITRATION PANEL
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Sandor I. Rabkin
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Public Arbitrator, Presiding Chairperson
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Thomas P. Bowman
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Public Arbitrator
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Thomas J. Nash
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Non-Public Arbitrator
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I, the undersigned Arbitrator, do hereby affirm that
I am the individual described herein and who executed this instrument
which is my award.
Concurring Arbitrators' Signatures
Sandor I. Rabkin
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Signature Data
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Public Ari)itrator. Presiding Chairperson
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Thomas P. Bowman
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Signature'Date
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Public Arbitrator
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Thomas J. Nash
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Signature Date
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Non-Public Arbitrator
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February 14, 2012