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

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Martin Sloan Claimant(s) vs. Wall Street Discount Corp. Respondent(s) NOTICE OF ARBITRATION AWARD 90-00283 CASE SUMMARY Claimant(s) Martin Sloan alleged that Respondent(s) Wall Street Discount Corp. failed to execute a buy order. Respondent(s) maintain that the stock could not have been purchased at the Claimant's limit. RELIEF REQUESTED

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Daniel T. and Martha Y. Yap Claimant(s) vs. 90-00281 Fidelity Investments Brokerage Services Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Daniel T. and Martha Y. Yap alleged that Respondent(s) Fidelity Investments Brokerage Services failed to execute an order in a timely manner. Respondent(s) denies that any act or omissi

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter or the Arbitration Between Charles D. Trover Personal Rep. of Est. of ; Gina Lee Trover ; Claimant j i AWARD vs. i ! NASD NO. 90-00280 Shearson Lehman Hutton, Inc. ' ) Resoondent REPRESENTATION Claimant was represented by John R. Barker, Esq. of the firm of Bittner « Barker, ?.C. and respondent was represented by Thomas C. Sand, Esq. of the firm of Miller, Nash, W

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between ) Hiram Thomas Hinkley, Jr. Claimant ) vs. ) AWARD Shearson Lehman Hutton, Inc. ) Michael Frager ) Jack Frager Respondents ) CASE NO. 90-00279 SUMMARY OF ISSUES Claimant alleged Respondents misrepresented the nature of, and risks involved in, the investments in common stocks and options made in his account; engaged in unsuitable trading; and breached th

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Barbara Goldman Claimant(s) vs. 90-00276 Shelter Rock Securities Corp. Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Barbara Goldman alleged that Respondent(s) Shelter Rock Securities Corp. failed to execute a trade in a timely manner. Respondent(s) did not defend. RELIEF REQUESTED Claimant(s) Barbara Goldman requested

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Julian W. Cole Claimant(s) vs. 88-01009 The Stuart-James Co., Inc., " Dennis R. Schardt and John Sutton Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Julian w. Cole alleged that Respondent(s) The Stuart- James Co., Inc., Dennis R. Schardt and John Sutton executed unauthorized transactions in Claimant's account. Respondent(