Carl Cosio v. Merrill Lynch, Pierce, Fenner & Smith, UBS Financial Services, Inc. and Rafael A. Calleja
Oct 04, 2011OUTCOME: Claimant was awarded compensatory damages of $248,874.41 plus pre-judgement interest.
Claimant, Carl Cosio, was represented by Randall Place, Esq. and Sara Hanley, Esq. of the Law Offices of Place & Hanley. Claimant asserted the following causes of action: 1) violation of FINRA custome ... r suitability standard (Rule 2310); 2) fraud in violation of Fl. Stat. 517; 3) civil theft or exploitation in violation of Fl. Stat. 772; 4) suitability; 5) breach of fiduciary duty; 6) negligence; and, 7) negligent hiring, retention and supervision; 8) respondeat superior; and 9) common law fraud. The causes of action relate to the alleged purchase of various unspecified securities and sale of various securities without authorization including, but not limited to, Bank of America Corporation, Exxon Mobil Corp., Motorola Inc., and Southern Company, plus the alleged fraudulent withdrawal of funds from Claimant's accounts.
