Public customer Perez filed a Financial Industry Regulatory Authority (?FINRA?) Arbitration Statement of Claim in February 2011 asserting, among other causes of action, breaches of contract and fiduciary duty; failure to supervise; and negligence in connection with the purchase of various Puerto Rican bank-issued preferred stocks in his account. Although Claimant Perez initially sought $264,000 in compensatory damages plus fees and costs, by the hearing?s close he had reduced his demand to between $95,606.01 and $133,550.67. In the Matter of the FINRA Arbitration Between Carlos Lopez Perez, Claimant, vs. Citigroup Global Markets, Inc., and Juan Carios Estarellas Sabater, Respondents (FINRA Arbitration 11-00758, October 4, 2012).
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