Wells Fargo broker Mark Agre allegedly breached a promissory note and a Financial Industry Regulatory Authority (FINRA) arbitration panel had a rare split decision. Two out of the three arbitrators ruled that Wells Fargo’s amendment was “unenforceable” because Agre “fulfilled his obligation” under the original note. The arbitrators explained their ruling in the award. The case went through claim, counterclaim and 10 hearing sessions. Firms in 2015 filing a claim of breach of promissory note won 63 out of 72 cases, a 95% rate. Agre worked out of a Wells Fargo branch in Overland Park, Kansas. According to the claim, Agre stayed longer than his term of seven years and four months. The panel decided that Wells Fargo had no evidence that Agre wanted to amend the note. Please call our securities law firm today if you suffered losses with Wells Fargo. We may be able to help you reclaim your losses in the FINRA arbitration forum.
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