Nelsonreid, Inc Ordered To Pay Investor $110,000

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Houston, Texas based NelsonReid, Incorporated to pay $110,000 in compensatory damages. The arbitration claim was filed against David Hayden, who was with NelsonReid, Inc., and Jaime Coronado, who was associated with Chase Investment Services Corporation, formerly WM Financial Services Incorporated.

The Claimant asserted various causes of action including breach of fiduciary duty, negligence, negligent misrepresentation and fraud, among other things. Prior to the beginning of the evidentiary hearing, the Claimant settled with Chase and Coronado. After the hearing on the merits continued, the arbitration panel found NelsonReid and Hayden jointly and severally liable to the Claimant for $110,000 in compensatory damages. The panel also assessed the Respondents, NelsonReid and Hayden, with the entire $9,000 in forum fees for the arbitration. (FINRA# 10-02562; Jerome S. Schwartz v. NelsonReid Inc. and David Hayden and Jaime Coronado and Chase Investment Services Corporation).

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