FINRA Arbitration Award for Theodore Davis Trust In Excess of Out of Pocket Damages
The law firm of Thomas F. Burke, P.C. has obtained an arbitration award of over $234,000 against Respondent Sunset Financial Services, Inc. in the matter of Theodore Davis Trust v. Sunset Financial Services, Inc., FINRA Dispute Resolution Case No. 13-00640. A Kansas City, Kansas FINRA arbitration panel found Sunset’s liable for selling Ted Davis two nontraded Real Estate Investment Trusts. Claimant, the Theodore Davis Trust, alleged that the two private placements were unsuitable for the Trust and that there were misrepresentations and omissions made by Sunset’s broker. The FINRA arbitration panel awarded the Trust all of its out of pocket losses, plus interest until the award is paid at 4%, $7,500 in costs, $56,666.00 in attorneys fees, reimbursement of $300 for filing fees and that Sunset pay all motion and hearing fees associated with the case. The Claimant’s expert was Jeffery Schaff of Ardor Fiduciary Services at Northbrook, Illinois. A copy of the award is attached below.