NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Carl M. Hoffman Claimant(s) vs. F.N. Wolf & Co., Inc. Respondent(s) NOTICE OP ARBITRATION AWARD 90-00312 CASE SUMMARY Claimant(s) Carl M. Hoffman alleged that Respondent(s) F.N. Wolf & Co., Inc. fraudulently induced him to buy stock in a worthless shell company. Respondent asserted that it was unaware of fraudulent conduct by its employees and

NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC!. Roland C. Booma Claimant vs. Case #90-00311 Award Prudential-Bache Securities, Inc. and William L. Cox Respondents CASE SUMMARY Claimant, Roland C. Booma ("Booma"), alleged Respondents, Prudential-Bache Securities, Inc. ("PBS") and William L. Cox ("Cox"), assigned Avon call options and sold Avon shares without authorization, engaged in unauthorized trading to cover the position, made

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Anne Gallas 90-00301 Name of Respondents si M.L. Stern & Co., inc. Michael Felsenf eld SHERRY CF TSSHES This case was filed with the National Association of Securities Dealers, inc. ("NASD") on March 6, 1990. Claimant Anne Gallas alleges that, in response to an advertisement, she contacted Respondent M. L. Stern and Co. Inc. and purchased $

Arbitration N.A.S.D. AWARD ,, . . A . . . National Association of Securities Dealers. Inc. -Suite 1680 NATIONAL ASSOCIATION OF SECURITIES DEALERS Three First National Plaza Chicago, IL 60602 (312) 899-4440 In the Matter of the Arbitration Between Name of Claimants s| Jon A & Susan E. Brunsvold 90-00300 Name of R.J. Steichen & Company Charles E. Purdy Gwendolyn Gayle Purdy CftSE SMIRRY In a claim filed with the

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Wilbur and Altheda Williams Claimants vs. E.F. Hutton & Co., Inc., Shearson Lehman Mutton , Inc., and Richard L. Fisher Respondents X X X X X X X X X X X CASE NO. 90-00296 AWARD CASE SUMMARY Claimants, Wilbur and Altheda Williams (hereinafter, "Claimants"), alleged that Respondent Richard L. Fisher

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Nare of Sho Kou and Li Yang CASE #90-00294 Name of RRfifiOP^ 0 "*"' a ^ Stuart James Company, Inc. Joseph Ciccone Heard before the members of the Arbitration Panel: Name Public/Industry Robert Herschmann, Esq. Public Sterling F. Tremayne Public Leslie Bishop Industry This matter was initiated by a Statement of Claim

Stipulated Award NASD .Dispute Resolution In the Matter of the Arbitration Between: Moira N. Noonan, Individually and as Trustee of the Noonan-Ferry Family Trust UAD 4/13/99, Claimant v. M.L. Stern & Co., LLC and Michael S. Butsko, Respondents Case Number: 01-03236 Hearing Site: San Diego, California REPRESENTATION OF PARTIES For Claimant: G. Mark Brewer, Esq. The Brewer Law Firm La Jolla, California For Respondents: James D. Porttnan, Esq.

NASID N.A.S.O. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS Arbitration National Association of Securities OssJsrs, Inc. One East Broward Boulevard Suit* 1000 R. Lauderdals. Florida 33301 (305) 522-7391 In the Matter of the Arbitration Between } tfinfi.£f_£lilUHQLjt&^ ) William G. & Larbara A. Landt j of Kenneth Kleid Visard before the Arbitrator: Arnold Y. Steinberg, Esq. } Case No. 90-00293 CftSB SOMRT T

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Herbert and Mildred Day Claimant(s) vs. Henry Duke Respondent(s) NOTICE OF ARBITRATION AWARD 90-00289 CASE SUMMARY Claimant(s) Herbert and Mildred Day alleged that Respondent(s) Henry Duke transferred Claimants' funds into an unsuitable investment and misrepresented the nature of the investment and the risks involved. Respondent denied the all

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Charles Schwab & Co., Inc. Claimant(s) vs. Thomas J. Bieker Respondent(s) NOTICE OF ARBITRATION AWARD 90-00287 CASE SUMMARY Claimant(s) Charles Schwab & Co., Inc. alleged that Respondent(s) Thomas J. Bieker gave Claimant an order to purchase securities for Respondent's account and subsequently stopped payment on the check tendered to pay for s