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The Trustee alleges the Trust lost money due to the representative's failure to execute instructions to [REDACTED] accounts prior to his death.
Damage Amount Requested
$25,000.00
Settlement Amount
$45,000.00
3/5/2013
Civil
Final
Initiated By
MINNESOTA LIFE INSURANCE COMPANY AND SECURIAN FINANCIAL SERVICES, INC.
Allegations
THE LAWSUIT MAKES CLAIM FOR BREACH OF CONTRACT, MISAPPROPRIATION OF TRADE SECRETS, TORTIOUS INTERFERENCE, BREACH OF FIDUCIARY DUTY AND THE DUTY OF LOYALTY AND CONVERSION.
Resolution
Settled
Sanctions
Injunction
Sanctions
MONETARY SETTLEMENT, SEE SECTION 13
Broker Comment
THE CLAIMS MADE IN THIS CASE AND IN RELATED ARBIITRATION, PROCESSING WERE SETTLED FOR A COMBINED TOTAL OF (I)APPROXIMATELY $746,000 AS REPAYMENT TO PLAINTIFF(S) OF COMPENSATION ADVANCES PREVIOUSLY MADE BY PLAINTIFF(S), PLUS (II) APPROXIMATELY $297,000 TO RESOLVE OTHER CLAIMS IN THE LAWSUIT AND ARBIRATION. INJUNCTION IS TERMINATED.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.