Preview
FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022
STATE OF NEW YORK
SUPREME COURT COUNTY OF LEWIS
Index No. CA9 DI ~7
-
O
RONNIE DORRITY
PO BOX 63 Plaintiff designates
7085 McAlpine St, Lewis as the
County
Lyons Falls, New York 13368 place of trial.
The basis of venue is
Principle place of residence
Plaintiff,
of the Plaintiff.
vs.
SUMMONS
TERRY JAMES DORRITY
42811 Wellesley Ave, #819
Thousand Island Park, New York 13692
Defendant.
To the above named Defendant
YOU ARE HEREBY SUMMONED to serve a notice of appearance, on
the plaintiff s Attorney(s) within 20 days after the service of this Summons,
exclusive of the day of service (or within 30 days after the service is complete if
this Summons is not personally delivered to you within the State of New York);
and in case of your failure to appear, Judgm t will be taken against you by
default for the relief demanded in the notice f h below.
Dated: July 13, 2017
Stuart E. F er, Esq.
Finer & Giruzzi-Mosca
Attorneys for Plaintiff
2615 Genesee Street
Utica, New York 13501
(315) 724-7800
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SUPREME COURT
STATE OF NEW YORK COUNTY OF LEWIS
RONNIE DORRITY,
W OMM
Index No.:
Plaintiff,
vs.
TERRY JAMES DORRITY,
Defendants.
____
Plaintiff, by and through his attorney, Stuart E. Finer, Esq., of counsel for
Finer & Giruzzi-Mosca, sets forth the following at all times hereinafter mentioned:
FACTS
1. Plaintiff was and still is a resident of the County of Lewis and State
of New York.
2. Upon information and belief, the Defendant, Terry James Dorrity,
was and has a residence in New York State with an address of, 42811 Wellesley
Ave, #819, Thousand Island Park, New York 13692.
3. Upon information and belief, the Defendant was a member of
National Futures Association and conducted business under the name Fidelity
Planning Group, which was also a commodity-trading advisor with the National
Futures Association.
4. Upon information and belief, Defendant Dorrity was the sole owner
and listed principle of Fidelity Planning Group and also an associated person of
the firm and an NFA Associate.
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5. That the actions related to the Plaintiff's account were conducted
while the Defendant was a member of the National Futures Association and upon
information and belief, after the association commenced an enforcement action
Terry James Dorrity voluntarily resigned and withdrew as a member of the
association. The enforcement action complaints included, among others, using
misleading and deceptive sales solicitations and failing to observe high standards
"churning"
of commercial honor and of clients accounts, all of which are outlined
in the Complaint filed against the Defendant by the National Futures Association
and attached hereto as Exhibit A.
6. Attached hereto as Exhibit B is the decision of the National Futures
Association whereby the Defendant agreed to withdraw from NFA membership
and that he would never apply again for membership and the Defendant
individually as well as his company withdrew from membership and in the event
the Defendant was able to obtain membership he would be subject to a fine of
$100,000.00.
7. It was clear from the complaint and the decision that the Defendant
was guilty of "engaging in excessive trading in order to churn customers accounts
and thereby cheat and defraud customers...and used misleading sales solicitations
accounts..."
and mishandled customer these actions are similar to the actions that
are described below by the Plaintiff.
8. The Plaintiff is over 70 years of age, having been born on September
6 , 1946.
9. That the Defendant solicited the Plaintiff to invest with the
Defendant. The Plaintiff being the Defendant's uncle, and advised the Plaintiff
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that he should remove his investment from the 401k where he had retired from
Georgia Pacific, known as Lyons Falls Pulp and Paper and entrust his retirement
funds to the Defendant for investment. Plaintiff had worked for 36 years. Plaintiff
stated to the Defendant that the investment was needed for retirement and that any
investment made on behalf of the Plaintiff was to be made in a conservative
account with little to no risk. It was clearly Plaintiff's intentions and investment
objective that he wanted a safe investment strategy.
10. The Plaintiff withdrew his retirement funds and transferred same to
the care and custody of the Defendant. The Defendant was paid advisory fees out
of the Plaintiff's personal checking account.
11. The Plaintiff had no experience or sophisticated financial knowledge
to direct his own investments and totally relied upon the alleged expertise of his
nephew, the Defendant named herein.
12. The Defendant failed to provide any appropriate disclosure as to the
risk of the investment nor did the Defendant provide regular investment advice to
periodically advice the Plaintiff as to the conservative nature and or safety of the
"safe"
alleged investment in Alaron Trading Corporation.
13. Although the loss came to the Plaintiff's attention in 2012 the
Plaintiff hesitated to seek any advice for a possible recovery due to the claims by
the Defendant and the Defendant's father, Plaintiff's brother, that there was no
avenue for recovery against the Defendant for the violation of the rules of the
National Futures Association or the common law breaches for fraud and
misrepresentation and therefore no way to recover any of the lost funds.
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AS AND FOR OUR FIRST CAUSE OF ACTION FOR VIOLATION OF
THE GENERAL BUSINESS LAW PLAINTIFF ALLEGES:
14. General Business Law §349 provides that it is unlawful to conduct
any business, trade or commerce in New York State which is considered deceptive
acts and practices. The deceptive acts include, among other things, the
misrepresentation regarding the suitability of the account, misrepresentations
regarding safety of the account, and misrepresentations as described in the
summary of facts above and below regarding investment and a single
product/security with no diversification, over concentration and a totally
unsuitable investment and failure to disclose the risks.
15. The practice is compounded by the fact that the deceptions by the
Defendant was practiced on a senior citizen.
16. Under General Business Law §349(h) Plaintiff is entitled to
compensation for his losses as well as reasonable attorneys fees.
AS AND FOR A SECOND CAUSE OF ACTION THE PLAINTIFF
ALLEGES AGAINST THE DEFENDANT AS FOLLOWS:
17. Plaintiff reasserts and realleges that all the allegations in paragraph 1
through 16 as if more fully set forth here and at length.
18. The actions by the Defendant were fraudulent and intended for the
purpose of deceiving the Plaintiff into purchasing Alaron Trading Corp-Division
of PFG.
19. That the Defendant knew, or should have known, that the single
stock investment was not in the best interest of the Plaintiff, was not a safe
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investment, was a significantly risky investment and in violation of the investment
objectives of the Plaintiff who was looking to this money for his retirement.
"pitch"
20. The Defendant claimed as part of his that he knew a
principle of the investment company and assured the Plaintiff his money was
therefore safe. Plaintiff's money was an over concentration investment and failed
to provide proper disclosures with regard to the liquidity, risk, or lack of
diversification that the Plaintiff sought as his investment objective.
21. That the Defendant knew that the Plaintiff would rely upon the
representations by the Defendant as to the company for which the Plaintiff's
money was being invested and knew that the Plaintiff would rely upon the
Defendant's advice believing that the advice was consistent with a properly
invested portfolio knowing the age and objectives of the Plaintiff. The Plaintiff
was also misled to rely upon claims by a trusted relative that made iteasier for the
Defendant to prey upon the Plaintiff.
22. With total disregard to the Plaintiffs objectives, the Plaintiffs age,
and the Plaintiffs retirement needs the Defendant misrepresented the safety of the
investment and invested the entirety of the funds, given to the Defendant for
investment purposes, into the single, high risk stock known as, Alaron Trading
Corp-Division of PFG. The Plaintiff relied upon the Defendant's advice as he
represented himself a financial planñer and authorized to do business under the
National Futures Association.
23. The Defendant also provided the Plaintiff with his business card, a
copy of which is attached as Exhibit C, setting forth that he was a "full service,
discount & managed commodity trading".... "your best option".
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24. The Plaintiff being the Uncle of the Defendant was also a prime
target for misrepresentation and fraud due to the reliance upon the family
relationship and the expectation that the nephew would act in the best interest of
the Plaintiff.
25. At the time of the investment and during the course of the time that
the investments were with the Defendant, the Plaintiff had no knowledge of the
actions and enforcement proceedings by National Futures Association for the
various violations of their rules and regulations resulting in damages to other
investment customers.
26. Defendant knew, or should have known, that the representation were
false and were made for the purpose of inducing the Plaintiff into relying upon
representations, knowing the Plaintiff would rely on the representations and did so
rely on the representation to his detriment, which resulted in damages in the sum
of $169,466.34.
27. Based upon the fraudulent representations, the Defendant's
knowledge that the Plaintiff would rely upon the fraudulent representations and
the fact that the Plaintiff did rely upon the fraudulent representations, the Plaintiff
lost $169,466.34.
28. The Defendant knew, or should have known, the Plaintiff was an
unsophisticated investor and had no, or limited, prior experience in a single stock
purchase, such as Alaron Trading Corp, and would rely upon the statements made
by the Defendant.
AS AND FOR A THIRD CAUSE OF ACTION
THE PLAINTIFF ALLEGES AGAINST THE DEFENDANTS
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AS FOLLOWS:
29. Plaintiff reasserts and realleges all of the allegations contained in
paragraphs 1 through 28 as ifmore fully set forth herein at length.
30. That the Defendant stood in a fiduciary capacity and as a financial
consultant in soliciting the transaction from the Plaintiff.
31. That the Defendant was paid fees for his expertise and consultation.
32. That the Defendant failed to conduct any appropriate suitability test
to determine whether the Plaintiff was a suitable investor, whether the risk
tolerance of the Plaintiff was consistent with the purchase and whether or not all of
the fees associated with the transaction were fully disclosed to the Plaintiff.
33. The Defendant failed to disclose the fees, failed to disclose the risks,
failed to disclose the fact that the Plaintiff was not a suitable investor in a single
trading company and breached his fiduciary responsibility relevant to the
investment for the Plaintiff's account.
34. That the sale was fully solicited by the Defendant and the deceptive
acts and practices were committed by the Defendant resulting in the damages and
losses to the plaintiff in the sum of $169,466.34.
AS AND FOR OUR FOURTH CAUSE OF ACTION THE
PLAINTIFF ALLEGES THE DEFANDANT FAILED TO FOLLOW
SECURITIES AND EXCHANGE RULES REGARDING
SUITABILITY:
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35. Plaintiff reasserts and realleges all of the allegations contained in
paragraphs 1 through 34 as ifmore fully set forth herein at length.
rule"
36. The Defendant did not follow the "know your customer with
regard to suitability.
37. That the Defendant failed to qualify any investments on behalf of the
Plaintiff to be consistent with the Plaintiff's investment objectives.
38. The Defendant failed to follow the know your customer rules and
suitability rules in conjunction with the Plaintiffs age, health, and retirement
needs.
39. The Defendant invested the Plaintiff's money in unsuitable and
inappropriate investments and disregarded the goal of preserving capital and
keeping with a conservative approach to an investment portfolio with limited risk.
40. The accounts, as shown on the attached Exhibit D, were invested in
aggressive, speculative and an inappropriate individual security, which did not
produce the requested result as was clearly indicated by the Plaintiff to the
Defendant.
41. The account created on behalf of the Plaintiff, by the Defendant was
not properly allocated or diversified and resulted in losses of the account in the
sum of $169,466.34 as a result of breach of conduct and negligent, breach of
fiduciary responsibilities, and breach of the rules and regulations governing
suitability for senior investors.
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WHEREFORE, Plaintiff demands a judgment against the Defendant for
the following causes of action: fraud and misrepresentation, breach of fiduciary
duty, securities malpractice, unsuitability under the securities and exchange act of
1934, violation of Section 349 of the General Business Law of the State of New
York, common law fraud and recession, negligent investment strategy and
demands judgment in the sum of $169,466.34 plus statutory interest at the rate of
9% plus reasonable attorneys fees, expert fees, costs and disbursements of this
action.
Dated: July 13, 2017 Yo , c.
Finer & Giruydi-Mosca
Stuart E. Finer, Esq., of counsel
Attorney for Plaintiff
2615 Genesee Street
Utica, New York 13501
(315) 724-7800
STATE OF NEW YORK )
COUNTY OF ONEIDA )ss.:
Ronnie Dorrity, sworn, deposes and says that deponent is the Plaintiff
being duly
in the within action; that deponent has read the foregoing and knows the contents
thereof; that the same is true to deponent's own knowledge, except as to the
matters therein stated to be alleged on info nd belief, an that as t those
matters deponent believes it tobe true
Ronme Dorrity
13*
Sworn to before me this
day of July, 2017.
Public - State of New York
Notary
My Commission Expires: -7 - 18'-10 O
ALYSE L VICK
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Preview
FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 STATE OF NEW YORK SUPREME COURT COUNTY OF LEWIS Index No. CA9 DI ~7 - O RONNIE DORRITY PO BOX 63 Plaintiff designates 7085 McAlpine St, Lewis as the County Lyons Falls, New York 13368 place of trial. The basis of venue is Principle place of residence Plaintiff, of the Plaintiff. vs. SUMMONS TERRY JAMES DORRITY 42811 Wellesley Ave, #819 Thousand Island Park, New York 13692 Defendant. To the above named Defendant YOU ARE HEREBY SUMMONED to serve a notice of appearance, on the plaintiff s Attorney(s) within 20 days after the service of this Summons, exclusive of the day of service (or within 30 days after the service is complete if this Summons is not personally delivered to you within the State of New York); and in case of your failure to appear, Judgm t will be taken against you by default for the relief demanded in the notice f h below. Dated: July 13, 2017 Stuart E. F er, Esq. Finer & Giruzzi-Mosca Attorneys for Plaintiff 2615 Genesee Street Utica, New York 13501 (315) 724-7800 1 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 SUPREME COURT STATE OF NEW YORK COUNTY OF LEWIS RONNIE DORRITY, W OMM Index No.: Plaintiff, vs. TERRY JAMES DORRITY, Defendants. ____ Plaintiff, by and through his attorney, Stuart E. Finer, Esq., of counsel for Finer & Giruzzi-Mosca, sets forth the following at all times hereinafter mentioned: FACTS 1. Plaintiff was and still is a resident of the County of Lewis and State of New York. 2. Upon information and belief, the Defendant, Terry James Dorrity, was and has a residence in New York State with an address of, 42811 Wellesley Ave, #819, Thousand Island Park, New York 13692. 3. Upon information and belief, the Defendant was a member of National Futures Association and conducted business under the name Fidelity Planning Group, which was also a commodity-trading advisor with the National Futures Association. 4. Upon information and belief, Defendant Dorrity was the sole owner and listed principle of Fidelity Planning Group and also an associated person of the firm and an NFA Associate. 2 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 5. That the actions related to the Plaintiff's account were conducted while the Defendant was a member of the National Futures Association and upon information and belief, after the association commenced an enforcement action Terry James Dorrity voluntarily resigned and withdrew as a member of the association. The enforcement action complaints included, among others, using misleading and deceptive sales solicitations and failing to observe high standards "churning" of commercial honor and of clients accounts, all of which are outlined in the Complaint filed against the Defendant by the National Futures Association and attached hereto as Exhibit A. 6. Attached hereto as Exhibit B is the decision of the National Futures Association whereby the Defendant agreed to withdraw from NFA membership and that he would never apply again for membership and the Defendant individually as well as his company withdrew from membership and in the event the Defendant was able to obtain membership he would be subject to a fine of $100,000.00. 7. It was clear from the complaint and the decision that the Defendant was guilty of "engaging in excessive trading in order to churn customers accounts and thereby cheat and defraud customers...and used misleading sales solicitations accounts..." and mishandled customer these actions are similar to the actions that are described below by the Plaintiff. 8. The Plaintiff is over 70 years of age, having been born on September 6 , 1946. 9. That the Defendant solicited the Plaintiff to invest with the Defendant. The Plaintiff being the Defendant's uncle, and advised the Plaintiff 3 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 that he should remove his investment from the 401k where he had retired from Georgia Pacific, known as Lyons Falls Pulp and Paper and entrust his retirement funds to the Defendant for investment. Plaintiff had worked for 36 years. Plaintiff stated to the Defendant that the investment was needed for retirement and that any investment made on behalf of the Plaintiff was to be made in a conservative account with little to no risk. It was clearly Plaintiff's intentions and investment objective that he wanted a safe investment strategy. 10. The Plaintiff withdrew his retirement funds and transferred same to the care and custody of the Defendant. The Defendant was paid advisory fees out of the Plaintiff's personal checking account. 11. The Plaintiff had no experience or sophisticated financial knowledge to direct his own investments and totally relied upon the alleged expertise of his nephew, the Defendant named herein. 12. The Defendant failed to provide any appropriate disclosure as to the risk of the investment nor did the Defendant provide regular investment advice to periodically advice the Plaintiff as to the conservative nature and or safety of the "safe" alleged investment in Alaron Trading Corporation. 13. Although the loss came to the Plaintiff's attention in 2012 the Plaintiff hesitated to seek any advice for a possible recovery due to the claims by the Defendant and the Defendant's father, Plaintiff's brother, that there was no avenue for recovery against the Defendant for the violation of the rules of the National Futures Association or the common law breaches for fraud and misrepresentation and therefore no way to recover any of the lost funds. 4 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 AS AND FOR OUR FIRST CAUSE OF ACTION FOR VIOLATION OF THE GENERAL BUSINESS LAW PLAINTIFF ALLEGES: 14. General Business Law §349 provides that it is unlawful to conduct any business, trade or commerce in New York State which is considered deceptive acts and practices. The deceptive acts include, among other things, the misrepresentation regarding the suitability of the account, misrepresentations regarding safety of the account, and misrepresentations as described in the summary of facts above and below regarding investment and a single product/security with no diversification, over concentration and a totally unsuitable investment and failure to disclose the risks. 15. The practice is compounded by the fact that the deceptions by the Defendant was practiced on a senior citizen. 16. Under General Business Law §349(h) Plaintiff is entitled to compensation for his losses as well as reasonable attorneys fees. AS AND FOR A SECOND CAUSE OF ACTION THE PLAINTIFF ALLEGES AGAINST THE DEFENDANT AS FOLLOWS: 17. Plaintiff reasserts and realleges that all the allegations in paragraph 1 through 16 as if more fully set forth here and at length. 18. The actions by the Defendant were fraudulent and intended for the purpose of deceiving the Plaintiff into purchasing Alaron Trading Corp-Division of PFG. 19. That the Defendant knew, or should have known, that the single stock investment was not in the best interest of the Plaintiff, was not a safe 5 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 investment, was a significantly risky investment and in violation of the investment objectives of the Plaintiff who was looking to this money for his retirement. "pitch" 20. The Defendant claimed as part of his that he knew a principle of the investment company and assured the Plaintiff his money was therefore safe. Plaintiff's money was an over concentration investment and failed to provide proper disclosures with regard to the liquidity, risk, or lack of diversification that the Plaintiff sought as his investment objective. 21. That the Defendant knew that the Plaintiff would rely upon the representations by the Defendant as to the company for which the Plaintiff's money was being invested and knew that the Plaintiff would rely upon the Defendant's advice believing that the advice was consistent with a properly invested portfolio knowing the age and objectives of the Plaintiff. The Plaintiff was also misled to rely upon claims by a trusted relative that made iteasier for the Defendant to prey upon the Plaintiff. 22. With total disregard to the Plaintiffs objectives, the Plaintiffs age, and the Plaintiffs retirement needs the Defendant misrepresented the safety of the investment and invested the entirety of the funds, given to the Defendant for investment purposes, into the single, high risk stock known as, Alaron Trading Corp-Division of PFG. The Plaintiff relied upon the Defendant's advice as he represented himself a financial planñer and authorized to do business under the National Futures Association. 23. The Defendant also provided the Plaintiff with his business card, a copy of which is attached as Exhibit C, setting forth that he was a "full service, discount & managed commodity trading".... "your best option". 6 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 24. The Plaintiff being the Uncle of the Defendant was also a prime target for misrepresentation and fraud due to the reliance upon the family relationship and the expectation that the nephew would act in the best interest of the Plaintiff. 25. At the time of the investment and during the course of the time that the investments were with the Defendant, the Plaintiff had no knowledge of the actions and enforcement proceedings by National Futures Association for the various violations of their rules and regulations resulting in damages to other investment customers. 26. Defendant knew, or should have known, that the representation were false and were made for the purpose of inducing the Plaintiff into relying upon representations, knowing the Plaintiff would rely on the representations and did so rely on the representation to his detriment, which resulted in damages in the sum of $169,466.34. 27. Based upon the fraudulent representations, the Defendant's knowledge that the Plaintiff would rely upon the fraudulent representations and the fact that the Plaintiff did rely upon the fraudulent representations, the Plaintiff lost $169,466.34. 28. The Defendant knew, or should have known, the Plaintiff was an unsophisticated investor and had no, or limited, prior experience in a single stock purchase, such as Alaron Trading Corp, and would rely upon the statements made by the Defendant. AS AND FOR A THIRD CAUSE OF ACTION THE PLAINTIFF ALLEGES AGAINST THE DEFENDANTS 7 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 AS FOLLOWS: 29. Plaintiff reasserts and realleges all of the allegations contained in paragraphs 1 through 28 as ifmore fully set forth herein at length. 30. That the Defendant stood in a fiduciary capacity and as a financial consultant in soliciting the transaction from the Plaintiff. 31. That the Defendant was paid fees for his expertise and consultation. 32. That the Defendant failed to conduct any appropriate suitability test to determine whether the Plaintiff was a suitable investor, whether the risk tolerance of the Plaintiff was consistent with the purchase and whether or not all of the fees associated with the transaction were fully disclosed to the Plaintiff. 33. The Defendant failed to disclose the fees, failed to disclose the risks, failed to disclose the fact that the Plaintiff was not a suitable investor in a single trading company and breached his fiduciary responsibility relevant to the investment for the Plaintiff's account. 34. That the sale was fully solicited by the Defendant and the deceptive acts and practices were committed by the Defendant resulting in the damages and losses to the plaintiff in the sum of $169,466.34. AS AND FOR OUR FOURTH CAUSE OF ACTION THE PLAINTIFF ALLEGES THE DEFANDANT FAILED TO FOLLOW SECURITIES AND EXCHANGE RULES REGARDING SUITABILITY: 8 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 35. Plaintiff reasserts and realleges all of the allegations contained in paragraphs 1 through 34 as ifmore fully set forth herein at length. rule" 36. The Defendant did not follow the "know your customer with regard to suitability. 37. That the Defendant failed to qualify any investments on behalf of the Plaintiff to be consistent with the Plaintiff's investment objectives. 38. The Defendant failed to follow the know your customer rules and suitability rules in conjunction with the Plaintiffs age, health, and retirement needs. 39. The Defendant invested the Plaintiff's money in unsuitable and inappropriate investments and disregarded the goal of preserving capital and keeping with a conservative approach to an investment portfolio with limited risk. 40. The accounts, as shown on the attached Exhibit D, were invested in aggressive, speculative and an inappropriate individual security, which did not produce the requested result as was clearly indicated by the Plaintiff to the Defendant. 41. The account created on behalf of the Plaintiff, by the Defendant was not properly allocated or diversified and resulted in losses of the account in the sum of $169,466.34 as a result of breach of conduct and negligent, breach of fiduciary responsibilities, and breach of the rules and regulations governing suitability for senior investors. 9 of 10 FILED: LEWIS COUNTY CLERK 07/20/2017 10:55 AM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 01/12/2022 WHEREFORE, Plaintiff demands a judgment against the Defendant for the following causes of action: fraud and misrepresentation, breach of fiduciary duty, securities malpractice, unsuitability under the securities and exchange act of 1934, violation of Section 349 of the General Business Law of the State of New York, common law fraud and recession, negligent investment strategy and demands judgment in the sum of $169,466.34 plus statutory interest at the rate of 9% plus reasonable attorneys fees, expert fees, costs and disbursements of this action. Dated: July 13, 2017 Yo , c. Finer & Giruydi-Mosca Stuart E. Finer, Esq., of counsel Attorney for Plaintiff 2615 Genesee Street Utica, New York 13501 (315) 724-7800 STATE OF NEW YORK ) COUNTY OF ONEIDA )ss.: Ronnie Dorrity, sworn, deposes and says that deponent is the Plaintiff being duly in the within action; that deponent has read the foregoing and knows the contents thereof; that the same is true to deponent's own knowledge, except as to the matters therein stated to be alleged on info nd belief, an that as t those matters deponent believes it tobe true Ronme Dorrity 13* Sworn to before me this day of July, 2017. Public - State of New York Notary My Commission Expires: -7 - 18'-10 O ALYSE L VICK 10 of 10