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Arbitration Details

UNIVERSAL COMMODITY CORPORATION NFA ID: 0244735

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Case Summary
 Case No.FiledDecision DateProduct
 07ARB0003103/07/200705/27/2008
Summary of Parties
 CustomersMembersRepresentatives
•  ESTATE OF GEORGE ROFFMAN•  COMTRUST INC
• STUART A MEHLER
•  UNIVERSAL COMMODITY CORPORATION
• KENNETH BERG
• DALE LEDBETTER
• GARY M SINCLAIR
• RENAN SUGARMAN
• JOSEPH VECCHIO
Proceeding Details
 Panel TypeNumber of ArbitratorsProceeding TypeLocation (City, State)
 NON-MEMBER3HEARINGFT. LAUDERDALE, FL
Summary of Awards and Claims
 Type Claim Amount Counter Claim 3rd Party Claim Cross Claim
 
Compensatory
Punitive
Treble
Interest
Attorney Fees
Costs
 Claim Award
$1,570,000.00$0.00
$1,570,000.00$0.00
$4,710,000.00$0.00
NA$0.00
NA$0.00
NA$0.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
Summary of Issues
Excessive commissions, RICO (18 U.S. C. Sections 1961- 1968), and Florida Statutes, Chapter 772 and Respondent's request for attorney's fees.

At the beginning of the hearing, The Estate withdrew its claims against Comtrust Inc., Universal Commodity Corporation, and Stuart Mehler for Violations of Florida Securities and Investor Protection Act, Violations of Commodity Exchange Act, Breach of fiduciary duty, Negligence, Negligent failure to supervise, Breach of contract, Common law fraud, Misrepresentations and Failure to disclose risk.

At the end of The Estate's case in chief, Respondents Comtrust, Inc., Universal Commodity Corporation, and Stuart Mehler requested that the Panel grant their Motion for Directed Verdict. After hearing argument from both The Estate and Respondents, the Panel granted the motion with respect to Comtrust, Inc. only, thereby denying and dismissing with prejudice The Estate's Claims against Comtrust. The Panel denied the motion against Universal Commodity Corporation and Stuart Mehler.

We, being the arbitrators appointed to review and determine this matter in accordance with the Code of Arbitration of National Futures Association, hereby determine that The Estate's claims against Universal Commodity Corporation and Stuart Mehler are denied and dismissed with prejudice.

All other relief requested is hereby denied, and each party shall bear its own costs and fees as incurred.

 
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