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AWARD

FINRA DISPUTE RESOLUTION

CASE #: 16-00140

James Peters (“Claimant”) vs. Liberty Partners Financial Services, LLC, Jeffery Allen Fanning, Cassandra Taleen Woodward, Kristopher Robert Tung, and Marlon O. Cole (“Respondents”) ______________________________________________________________________ REPRESENTATION OF PARTIES:

For Claimant James Peters: Hilton Wiener, Esq., Law Offices of Hilton Wiener, New York, New York.

For Respondents Liberty Partners Financial Services, LLC (“Liberty Partners”), Jeffery Allen Fanning (“Fanning”), and Cassandra Taleen Woodward (“Woodward”): Jeffrey A. Fanning, Executive Representative, Liberty Partners Financial Services, LLC, Bakersfield, California.

Respondent Kristopher Robert Tung (“Tung”) appeared pro se.

For Respondent Marlon O. Cole (“Cole”): Stephanie D. Delia, Esq., Law Office of Stephanie D. Cole, New York, New York. ______________________________________________________________________ NATURE OF DISPUTE: Customer vs. Member and Associated Persons

Statement of Claim filed on or about: January 11, 2016.

Liberty Partners, Fanning, and Woodward jointly filed an Answer on or about: April 29, 2016.

Tung filed a Statement of Answer on or about: March 30, 2016.

Cole filed a Statement of Answer on or about: July 15, 2016. ______________________________________________________________________ CASE SUMMARY: Claimant asserted the following causes of action: suitability, failure to supervise, and fraud and misrepresentation. Claimant alleged that Respondents made unsuitable investment recommendations, such as Green Mountain Coffee, Hansen Medical, Triquint Semiconductor, Inc., and Zynga. Claimant alleged that Respondents overly-concentrated his holdings in these investments and, as a result, exposed Claimant to unsuitable risk and heavy losses in his account.

Unless specifically admitted in their Answer, Liberty Partners, Fanning, Woodward denied the allegations made in the Statement of Claim and asserted various affirmative defenses.

Unless specifically admitted in his Answer, Tung denied the allegations made in the Statement of Claim and asserted various affirmative defenses.

FINRA Dispute Resolution Arbitration No. 16-00140 Award Page 2 of 3

Unless specifically admitted in his Answer, Cole denied the allegations made in the Statement of Claim and asserted various affirmative defenses. ______________________________________________________________________ RELIEF REQUESTED: In the Statement of Claim, Claimant requested:

Compensatory Damages: Costs:
Other:

$50,000.00 $ 5,000.00 Unspecified

In Liberty Partners, Fanning, and Woodward’s Answer, they requested that the Arbitrator recommend the expungement of this arbitration case from their registration records maintained by the Central Registration Depository (“CRD”).

_____________________________________________________________________ AWARD: The undersigned arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows: 1) Claimant’s claims are denied in their entirety. 2) All other relief requests are denied. 3) The requests for expungement by Liberty Partners, Fanning, and Woodward shall be severed from this arbitration case. 4) FINRA Dispute Resolution shall retain the $600.00 filing fee that Claimant deposited previously. 5) Respondent Cole is liable for and shall pay to Claimant $300.00 to reimburse Claimant for the filing fee previously paid to FINRA Dispute Resolution. ______________________________________________________________________ OTHER FEES: Liberty Partners has paid to FINRA Dispute Resolution the $750.00 Member Surcharge and $1,750.00 Member Process Fee previously invoiced. ______________________________________________________________________ OTHER ISSUES: The Arbitrator acknowledges that he has read the pleadings and other materials filed by the parties.

Cole did not file with FINRA Dispute Resolution a properly executed Submission Agreement but is required to submit to arbitration pursuant to the Code of Arbitrator Procedure, and, having answered the claim, is bound by the determination of the Arbitrator on all issues submitted.

Claimant submitted a Final Submission on or about June 6, 2016.

On or about June 15, 2016, Tung filed a request for an extension of time to submit documents. No response was received. On June 20, 2016, the Arbitrator entered an Order granting Tung’s request for an Extension of Time to Submit Documents and giving Tung until June 30, 2016, to file additional documents and giving Claimant until July 10, 2016, to file a response.

On or about June 30, 2016, Tung filed a Supplemental Answer to the Statement of Claim. On or about June 30, 2016, Liberty Partners, Fanning, and Woodward jointly submitted a Final Submission. Claimant submitted a response to Respondents’ Final Submissions on or about July 1, 2016.

On or about July 19, 2016, Claimant notified FINRA that he dismissed all claims against Tung with prejudice. Accordingly, the Arbitrator did not adjudicate any claims asserted against Tung.

FINRA Dispute Resolution Arbitration No. 16-00140 Award Page 3 of 3

On or about August 24, 2016, Claimant notified FINRA that he dismissed all claims against Liberty Partners, Fanning, and Woodward with prejudice. Accordingly, the Arbitrator did not adjudicate any claims asserted against Liberty Partners, Fanning, and Woodward.

As part of this Award, the Arbitrator orders that FINRA Dispute Resolution sever the expungement requests of Liberty Partners, Fanning, and Woodward. FINRA Dispute Resolution shall open a new case, with a new case number, so that Liberty Partners, Fanning, and Woodward may pursue their expungement requests in a separate proceeding. Claimant and his counsel will be permitted to participate in any and all aspects of the new severed case, including any scheduled hearings, in accordance with the Code.