N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Kenneth L. Geist 88-02937 Name of Respondents Bear Stearns & Co., Inc. Baird Patrick & Co,, Inc. J. Edmund & Co. Stuart Sosler, Ludwig Cserhart and John E. Ligvuns Heard Before: Public/Industry Murray I. Sonuner Public Arbitrator Robert Seaman Public Arbitrator Theodore Kimelman Industry Arbitrator CASE SUMM

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Howard L. Schaeffer Claimant(s) vs. Drexel Burnham Lambert, Inc. Respondent(s) AWARD 88-03052 The Arbitrator, Randall C. Schakner, having been selected to review and determine a matter in controversy between the above- mentioned Claimant and Respondents, set forth in a submission to arbitration signed by the parties; And, that having reviewed and cons

• NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Sherin Mahmoud Claimant(s) vs. 88-03047 Levco Securities Corp., Individual's Securities Ltd. and Heather Fontaine Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Sherin Mahmoud alleged that Respondent(s) Levco Securities Corp., Individual's Securities Ltd. and Heather Fontaine did not execute Claimant's order to sell secur

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION, INC. CASE: 99-02399 Lleras Family Trust, claimant vs. Ameritrade, Inc., respondent. ATTORNEYS: For Claimant Lleras Family Trust ("Claimant") appeared Oswaldo Lleras, Pro Se, Cape Coral, FL. For Respondent Ameritrade, Inc. ("Respondent") appeared in-house counsel James J, Vihstadt, Esq., Bellevue, NE. DATE FILED: 05/25/99 CASE SUMMARY: Claimant alleged that when on A

NATIONAL ASSOCIATION OP SECURITIES DEALERS In the Matter of the Arbitration Between Merrill Lynch, Pierce, Fenner & Smith, Inc. Claimant(s) vs. 88-03037 Douglas I. Cerny Respondent(s) NOTICE OP ARBITRATION AWARD CASE SUMMARY Claimant Merrill Lynch, Pierce, Fenner & Smith, Inc. alleged that Respondent Douglas I. Cerny has an amount of $2,196.67 due and owing in his securities account. Respondent did not defend. RELIEF REQUESTE

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between ) Michael Srednick and } Lee Srednick Claimant(s) ) ) AWARD ) vs. ) CASE NO. 88-02930 ) Dean Witter Reynolds, Inc., ) Barry M. Speyer Respondent(s) ) SUWARY OF ISSUES This case was filed September 9, 1988. Claimants allege that Respondents pursued high risk and speculative naked option writing strategies which were not suitable for Claimants' in

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Isabel Clark vs. Bear Stearns & Co. Morgan, Olmstead, Gary W. Hankins Claimants , Inc. Respondents Kennedy & Gardner, Inc. ) ) AWARD } ) CASE ) ) ) ) ) ) SUMMARY OF ISSUES This case was filed on August 8, 1988. Claimant alleges that while Respondent Gary W. Hankins was an employee of Bear, Stearns and Co., Inc. and later of Morgan, Olmstead, Kennedy

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter cf the Arbitration Between Eli & Bruce R. Baron Claimant(s) vs. Blinder, Robinson & Co., Inc. Respondent(s) NOTICE OF ARBITRATION AWARD 88-02915 CASE SUMMARY Claimants Eli & Bruce R. Baron alleged that Respondent Blinder, Robinson & Co., Inc. committed an unauthorized trade in Claimants' account held with the Respondent. Respondent denies Claimants' allegations. RELIEF

NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the Matter of the Arbitration Between Wall Street Clearing Co. Claimant vs. Firouz Ipaktchi Elizabeth Ipaktchi vs. Beuret & Company Respondents Third-Party Respondent Case #88-02911 AWARD CASE SUMMARY Claimant, Wall Street Clearing Co., alleges that Respondents, Firouz and Elizabeth Ipaktchi, former customers of Beuret & Company incurred a debit balance in the amount

Award NASD Regulation, Inc. In the Matter of the Arbitration Between: Herzog, Heine, Geduld, Inc., (Claimant) vs. Leslie C. Jones, Jr., (Respondent) Case Number: 99-02398 Hearing Site: New York, NY REPRESENTATION OF PARTIES Claimant Herzog, Heine, Geduld, Inc., hereinafter referred to as "Claimant": Lewis H. Rosenbaum, Esq., New York, NY. Respondent Leslie C. Jones, Jr., hereinafter referred to as "Respondent" did not enter an appearance in this mat