Godbout Law successfully obtained an award of U5 expungement on behalf of a FINRA associated person in a FINRA arbitration. Lowell Hart was an insurance salesman for State Farm and was dually licensed to sell securities and registered with FINRA. State Farm discharged Mr. Hart for automobile insurance quoting practices that it determined were not within the company guidelines. When State Farm filed a U5 for Mr. Hart after his termination, it answered affirmatively to Question 7(F)(1), indicating that Mr. Hart had been terminated for violating investment related regulations and industry standards. After a four-day hearing, with experts testifying for both sides, FINRA agreed with Mr. Hart that no “investment related” standards were implicated in the reason for termination and expunged the affirmative response to Question 7(F)(1).
Attorney John A. Mangones represented the claimant in the FINRA arbitration proceeding.
Godbout Law provides individuals and small to mid-sized businesses with legal representation in regards to breach of fiduciary duty damages.
If you are in need of legal representation in the case of a breach of fiduciary duty complaint, please consider contacting Godbout Law for a consultation.