N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant Lawrence S. Smith Name of Respondents J. Alexander Securities, Inc. Robert Kay Harvey Rubenstein NASD Arbitration No. 93-03436 REPRESENTATION For Claimant: Ronald Stauber, Esq. • Los Angeles, California For Respondents: J. Alexander Securities, Inc., and Robert Kay - Michael A. Bertz, Esq. Los Angeles, Califor

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter of the Arbitration Between PATRICIA KIRBY, Claimant, v. NASD No. 93-3435 CAPITAL EQUITIES. INC. ?,nd MICHAEL DESTRO, Respondents. Representation For Claimant: Douglas Martin, Esq., San Francisco, California For Respondent: Walter Baumgardner, Esq. of Musilli, Baumgardner, Wagner & Pamell, P.C., St. Clair Shores, Michigan Case Information Statement of Claim filed: Augu

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Leonid & Polina Zolotusky 93-03429 Name of Respondent Piper Jaffray, Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on September 1, 1993, Claimants Polina & Leonid Zolotusky, who appeared Pro Se, alleged that in October, 1990 they opened a Prime Account with Respondent Piper Jaffra

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Fernando A. Kern & Reynalda E. Kern 93-03367 Name of Respondents First Gateway Securities, Inc.; James J. Gilmartin REPRESENTATION For Claimants: Fernando A. Kern and Reynalda E. Kern were represented by H. Clay Billingsley, Esq., of Klutho, Cody & Kilo, P.C., located in St. Louis, Missouri. For Respondents: First Gateway

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Todd Taliaferro and Case Number: 01-02677 Hearing Site: Troy, Michigan Names of Respondents Merrill Lynch Pierce Fenner & Smith, Inc., and Edward W. Godfrey REPRESENTATION OF PARTIES Todd Taliaferro ("Claimant") was represented by Anthony V. Trogan, Esq., West Bloomfield, Michigan. Merrill Lynch Pierce Fenner & Smith, Inc. ("MLPFS") and Edward W.

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Robert & Margaret Berinhout 93-03365 Name of Respondents Prudential Securities. Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on August 26, 1993, Claimants Robert and Margaret Berinhout, who appeared Pro Se, alleged that they purchased 600 shares of Ilio Inc. stock from Respondent

N.A.S.D. AWARD NATIONAL. ASSOCIATION OF SECTIRTTIFS DEALERS. INC. In the matter of the Arbitration Between of Claimants The Nevenka Tanin Family Trust Nevenka Tanin NASD Arbitration Eleanore Tanin No. 93-03360 Name of Respondents Shearson Lehman Hutton, Inc. Thirfl Party Claimant Smith Barney Shearson, Inc. Third Party Respondent Cyril P. Tanin Representation For Claimants: Robert A. Uhl, Esq. - Aidikoff & Kesluk - Los Angeles, C

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Alvin L. Lesser 93-03356 Name of Respondent PaineWebber, Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on August 26, 1993, Claimant Alvin L. Lesser, who appeared Pro Se, alleged that Respondent PaineWebber, Inc., through its account executive, Jeff Sena, made an unauthorized transf

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Vita Jaffe Karpinos 93-03353 Name of Respondent Merrill Lynch. Pierce, Fenner & Smith. Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on August 26, 1993, Claimant Vita Jaffe Karpinos. through his Representative, Steve Goldberg, alleged that Respondent Merrill Lynch. Pierce, Fenner &

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Satya N. Gupta and Promila Gupta Satya N. Gupta Custodian for Ashish Gupta 93-03352 Name of Respondent Waterhouse Securities. Inc. REPRESENTATION For Claimants Satya N. Gupta, Promila Gupta, and Satya N. Gupta Custodian for Ashish Gupta ("Claimants"): Ralph A. Gam, Esq. For Respondent Waterhouse Securities, Inc. ("Responde