Tuthill vs. Oppenheimer & Co.
TUTHILL v. OPPENHEIMER & CO., INC., NASD ID #99-02709, San Diego, 4/19/00)
A three-person Panel dismisses the claims of a Trustee on behalf of a pension plan on a pre-hearing motion from CIBC Opco. In its Answer, Respondent specifically requested that the Statement of Claim be dismissed as ineligible under NASD Code of Arbitration Procedure Rule 10304 [six-year eligibility] or, in the alternative, be dismissed as barred by the statute of limitations pursuant to California Civil Code Section 338.
The Panel evidently chose the alternative, denying all claims pursuant to California Civil Code Section 338 on the basis of the pleadings, the motion papers and the arguments of the parties.
Unfortunately, the Case Summary section for this Award is bare-bones, offering no detail about the dates involved, the nature of the dispute or even the product in dispute. It merely imparts that Claimant alleged unsuitable recommendations, negligent misrepresentation and breach of fiduciary duty. (SAC Ref. No. 00-19-001)
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