Ian Doran v. Fidelity Brokerage Services LLC - Settlement Enforcement Order

Fri, 24 Apr 2026 01:14:44 +0000
Securities

The District Court for the District of Rhode Island granted Fidelity Brokerage Services LLC's Motion to Enforce Settlement against plaintiff Ian Doran, accepting the Magistrate Judge's Report and Recommendation in full. The Court found that the parties entered into a binding and enforceable settlement agreement memorialized in a signed term sheet containing clear and unambiguous terms, including agreed-upon Form U5 language, and that Doran was represented by counsel when assenting. The Court rejected Doran's claim of no mutual assent and his duress defense under Rhode Island law, finding insufficient evidence of unlawful conduct or absence of reasonable alternative. The case was dismissed with prejudice and both parties were ordered to comply with the settlement terms.