J. LEON HOLMES, District Judge.
This matter came before the Court upon the Application to Confirm Arbitration Award (the "Application") (Doc. 1) filed herein on September 29, 2016, and the Motion for Entry of Final Default Judgment Confirming Arbitration Award (the "Motion") (Doc. 8) filed herein on January 5, 2017. The Court, having reviewed the Application, the Motion, and being otherwise duly advised in the premises does hereby:
ORDER and ADJUDGE as follows:
1. The Application and the Motion are
2. This Court has jurisdiction over this matter pursuant to 9 U.S.C. § 9.
3. Respondent, Joyce Jenkins Sullivan ("Sullivan"), was duly served with process on December 9, 2016. Her deadline to file a response herein was December 31, 2016. Sullivan has neither responded to the action, nor requested an extension of time to respond.
4. A Clerk's Default was entered against Sullivan on January 4, 2017. (Doc. 7)
5. Having filed no response in the action, Sullivan has admitted all well-pled allegations against her. Taylor v. City of Ballwin, Mo., 859 F.2d 1330, 1333, n. 7 (8th Cir. 1988). As a matter of law, Petitioner, John William King, is entitled to a final default judgment against Sullivan pursuant to Federal Rule of Civil Procedure 55(b).
6. With respect to applications to confirm arbitration awards, 9 U.S.C. § 9 provides in pertinent part:
7. The arbitration award dated June 30, 2016, attached hereto as
8. The arbitration claims filed by Joyce Jenkins Sullivan shall be expunged from all public and non-public records for John William King maintained by the Central Records Depository and/or any securities industry self-regulatory organization, including the Financial Industry Regulatory Authority.
9. Each party shall bear their own attorney's fees and costs.
DONE AND ORDERED.
Nature of the Dispute: Customer vs. Associated Person and Non-Member
For Claimant Joyce Jenkins Sullivan: Pamela R. Jones, Esq., Downer & Wilhite LLC, Shreveport, Louisiana.
For Respondent John William King ("King"): Timothy B. Atkins, Esq., Morgan Stanley Wealth Management, LLC, Pensacola, Florida.
Respondent The King Poljak Group did not enter an appearance in this matter.
Statement of Claim filed on or about: April 2, 2014. Amended Statement of Claim filed on or about: May 30, 2014. Joyce Jenkins Sullivan signed the Submission Agreement: April 2, 2014.
Statement of Answer filed by Respondent King on or about: August 28, 2014. John William King signed the Submission Agreement: August 26, 2014. The King Poljak Group did not sign the Submission Agreement.
Claimant asserted the following causes of action: breach of contract, negligence, breach of fiduciary duty, churning, misrepresentations, omission of facts, suitability, and unauthorized trading. The causes of action relate to Respondent King's alleged unauthorized sale of Claimant's municipal bonds and purchase of municipal bonds of lower quality and the alleged unauthorized sale of other bonds and purchase of shares of Alliance Bernstein Municipal Income Fund.
Unless specifically admitted in his Answer, Respondent King denied the allegations made in the Statement of Claim, as amended, and asserted various affirmative defenses.
In the Statement of Claim, as amended, Claimant requested compensatory damages of $100,000.00, interest, attorneys' fees, and costs.
In his Statement of Answer, Respondent King requested denial of all of Claimant's claims, expungement of Claimant's claims and that Claimant be held responsible for all costs and fees in this proceeding.
The Arbitrator acknowledges that he has read the pleadings and other materials filed by the parties.
Respondent The King Poljak Group is not a member or associated person of FINRA and did not voluntarily submit to arbitration. Therefore, the Arbitrator made no determination with respect to Claimant's claims against Respondent The King Poljak Group.
On or about March 30, 2016, Claimant advised FINRA Dispute Resolution that the parties settled this matter and Claimant dismissed her claims against Respondent King with prejudice. Accordingly, the Arbitrator made no determinations with respect to any of the claims asserted in the Statement of Claim, as amended.
On or about April 21, 2016, Respondent King filed a Petition for Expungement which Claimant did not oppose.
The Arbitrator conducted a recorded telephonic hearing on June 17, 2016, regarding Respondent King's Petition for Expungement. Claimant opted not to appear at the hearing.
The parties have agreed that the Award in this matter may be executed in counterpart copies or that a handwritten, signed Award may be entered.
After considering the pleadings, the testimony and evidence presented at the recorded telephonic expungement hearing, the Arbitrator has decided in full and final resolution of the issues submitted for determination as follows:
Pursuant to Rule 12805 of the Code of Arbitration Procedure ("Code"), the Arbitrator has made the following Rule 2080 affirmative findings of fact:
Pursuant to the Code, the following fees are assessed:
Member fees are assessed to each member firm that is a party in these proceedings or to the member firm(s) that employed the associated person(s) at the time of the event(s) giving rise to the dispute. Accordingly, as the member firm which employed Respondent King at the time of the event(s) giving rise to the dispute, Morgan Stanley is assessed the following:
Adjournments granted during these proceedings for which fees were assessed:
The Arbitrator has waived assessment of the adjournment fee.
The Arbitrator has assessed hearing session fees for each session conducted. A session is any meeting between the parties and the arbitrator(s), including a pre-hearing conference with the arbitrator(s), that lasts four (4) hours or less. Fees associated with these proceedings are:
The Arbitrator has assessed $225.00 of the hearing session fees to Claimant.
The Arbitrator has assessed $675.00 of the hearing session fees to Respondent including the entire fee for the June 17, 2016, expungement hearing.
All balances are payable to FINRA Dispute Resolution and are due upon receipt.
I, the undersigned Arbitrator, do hereby affinn that I am the individual described herein and who executed this instrument which is my award.
