Claimants allege that IAR did not accurately represent all material facts about their investment account and did not reasonably manage the account in 2020 and 2021.

$788,000.00

The claims lack merit. I did not misrepresent any material facts to Claimants, nor did I mismanage their account. Claimants were provided with oral and written disclosures of the associated investment risks, which they had assumed for a number of years in investing with me. I also reasonably managed their account during a period of time when the markets experienced a historical amount of volatility due to the COVID-19 pandemic. It is unfortunate that their account declined in value during this time period. I intend to vigorously defend against the claims.

Clients alleged that they experienced damages by the breach of fiduciary duty, intentional and negligent misrepresentations, and gross mismanagement of an options trading strategy implemented by Mr. Shatsky from 2017 to 2021. Claims were settled to avoid further litigation.

$1,700,000.00

$310,000.00

The dispute in question concerns a proven investment strategy that has been executed successfully since the late 1990s. The clients in question were invested in this strategy from 2014 to 2020 and made a net profit over that entire period of time. Regrettably, they engaged in bad-faith negotiations, selectively choosing a six-month period surrounding the onset of COVID-19 and making false accusations in an attempt to recoup short-term losses. While it is natural to wish for a second chance whenever an investment underperforms over a brief period, such a prospect is not always feasible. The client's allocation as a percentage of their overall net worth was modest and represented only a small fraction of their investable net worth, as per the guideline for this aggressive/niche strategy. Although I was fully prepared to defend my strategy vigorously at arbitration, my counsel convinced me to settle the matter for a fraction of the fictitious damages claim and put the matter behind me.

Client alleged that Mr. Shatsky mismanaged and misrepresented a particular options trading strategy that was being conducted on the client's account. The claim was settled to avoid further litigation costs.

$70,000.00

The client in question decided to discontinue their investment strategy and requested to have it unwound, which is a process that takes 90 days. However, when they noticed that their neighbors and colleagues were making profits while they were exiting, they became agitated and unfairly demanded the same level of performance as the investors who stayed committed to the strategy. Ultimately, even though the client's claims were specious, a mutually agreed upon settlement amount was reached, which proved to be far less than the cost of an arbitration to clear my name against frivolous claims of misrepresentation or mismanagement.

THE CLIENT'S AGENT ALLEGED UNSUITABILITY WITH RESPECT TO VARIABLE ANNUITY 12/2004. DAMAGES UNSPECIFIED.

CLAIM DENIED.

FAILURE TO FOLLOW INSTRUCTIONS AND NEGLIGENCE. JUNE 2002.

$5,500.00

CITIGROUP GLOBAL MARKETS INC. (F/K/A SALOMON SMITH BARNEY) DECLINED TO MEDIATE THIS MATTER.

REQUEST FOR MEDIATION SEEKING TO SURRENDER ANNUITIES WITHOUT INCURRING FEES OR CHARGES.

$5,001.00