|The following issues were presented to and decided by the undersigned Arbitrators: violation of Section 6(b) of the Commodity Exchange Act ("CEA"), violation of Section 6(o) of the CEA, violation of Section 6(b) and 6(o) of the CEA – churning, excessive commission rates, breach of fiduciary duty and misrepresentations about and failure to disclose risk. Also, breach of contract, negligence, common law fraud and deceit, violation of NFA Rule 2-2: Fraud and Related Matters, violation of NFA Rule 2-4: Just and Equitable Principles of Trade, violation of NFA Rule 2-29: Communications with the Public and Promotional Material, violation of NFA Rule 2-30: The "Know Your Customer" Rule, Claimants' request for interest, costs, attorneys' fees and punitive damages and Respondents’ request for costs and attorneys' fees.
At the end of the Claimants' case in chief, Respondents Rosenthal Collins Group, LLC, Carlin Futures, LLC and Olympus Futures, Inc. requested that the Panel grant their Motion for Directed Verdict. After hearing argument from both the Claimants and Respondents, the Panel granted the motion. Therefore, Liebel and Dorothy Rubin's claims against Rosenthal Collins Group, LLC, Carlin Futures, LLC and Olympus Futures, Inc. were denied and dismissed with prejudice.
We, being the Arbitrators appointed to review and determine this matter in accordance with the Code of Arbitration of National Futures Association, hereby unanimously determine that the following relief shall be granted.
Aberon Securities Capital Management, LLC is liable for the following Award and shall pay to Liebel and Dorothy Rubin:
Compensatory Damages $ 322,256.50
Punitive Damages $ 0.00
Treble Damages $ 0.00
Interest $ 0.00
Attorney’s Fees $ 0.00
Other Costs $ 0.00
Total Amount of Award $ 322,256.50
Each party shall bear its own costs and fees as incurred.
All other relief requested is hereby denied.