| PEREGRINE FINANCIAL GROUP INC |
NFA ID: 0232217 |
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An NFA Arbitration claim is a futures or forex related dispute involving a customer and an NFA Member (or employee) or Associate. It is not a regulatory action.
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| 05ARB00040 | 03/11/2005 | 12/12/2007 | |
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| • DELMONT SUNDERLAND | • EMPIRE FUTURES LLC
• PEREGRINE FINANCIAL GROUP INC
• REUBEN LEO SUSHMAN | • CHRISTOPHER ANGLE
• LOUIS F BURKE
• ROBERT CHRISTIE
• REBECCA WING |
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| NON-MEMBER | 3 | HEARING | CHICAGO, IL |
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| $83,444.34 | $41,500.00 | | $25,000.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $2,159.44 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $50,000.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| | | The following issues were presented by the parties and decided by the undersigned Arbitrators: Empire's breach of fiduciary duty; Commodities fraud in violation of § 4b(a)(i) of the Commodity Exchange Act ("CEA"); Empire's fraud as a Commodity Trading Advisor in violation of § 4o of the CEA and § 4.36 of the Commission's Rules; Sushman's liability as a control person under § 13(b) of the CEA; Peregrine's liability for Empire and Sushman's violations of the CEA pursuant to its guarantee agreement with Empire and/or under § 2(a)(1) of the CEA; Respondents' violation of NFA Compliance Rules 2-8 (Discretionary Accounts), 2-9 (Supervision of Branch Offices and Guaranteed IBS) and 2-29 (Communications with the Public and Promotional Material); Common law fraud; Breach of contract; Peregrine's request for costs and fees; Empire and Sushman's request for costs and attorneys' fees; and Claimant's request for punitive damages, costs and attorneys' fees.
We, being unanimous, as the Arbitrators appointed to hear and decide this matter, have determined the following relief shall be granted in accordance with the Code of Arbitration of National Futures Association.
Respondents Empire Futures, LLC and Reuben L. Sushman are jointly and severally liable for the following Award to Claimant Delmont Sunderland:
The amount of other costs represents NFA filing and hearing fees paid by the Claimant.
For the period in which the Panel found Empire Futures, LLC and Reuben L. Sushman liable, the Panel determined that Peregrine Financial Group, Inc. was not Empire Futures, LLC's guarantor. Therefore, the Panel denies all claims of Delmont Sunderland against Peregrine Financial Group, Inc. and dismisses them with prejudice.
All other relief requested is hereby denied.
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