To the Editor:

I am writing with regard to your paper’s Oct. 19 article “Accused of ‘indiscretions’ as a stockbroker, Lefkaditis says he had a ‘stellar track record’.” The article relates to Eric Kuck’s letter to the editor that was printed in the same edition of this paper. The article cites three “customer disputes” against Mr. Lefkaditis during his 13-year career in the financial-securities business.

My oldest sister is a physician in Cleveland, Ohio, specializing in high-risk pregnancies. In her more than 30-year career, she and her practice have been the subject of numerous medical malpractice suits. My sister told me that in her field, the decision whether to contest a lawsuit or settle is frequently not based on a question of guilt or innocence, but more often than not comes down to a basic economic analysis. That is, does the cost of litigation outweigh the cost of settlement or not.

Based on the settlement descriptions of the three customer disputes that Mr. Lefkaditis was the subject of, and the quotations in the article from Mr. Lefkaditis and the statement from Michelle Ong of FINRA [Financial Industry Regulatory Authority Inc.] that “almost 80 percent of the cases [that are arbitrated] settle,” it appears that Mr. Lefkaditis’s three settlements were also arrived at based on the economic assumption that it would cost less to settle these complaints than to litigate them.

The United States is likely the most litigious country in the world. Homeowners, business people, and professionals are all routinely the targets of litigation. Allegations of wrongdoing are simply allegations. All defendants in disciplinary and legal proceedings are presumed innocent until proven guilty.

As a former law-enforcement officer, Mr. Kuck should be well aware of this. It is unfortunate that a surrogate for the Knox Democratic Party candidates has again tried to make something out of nothing. Knox voters deserve better than gutter politics.

Tom Wolfe

Knox

Editor’s note: Tom Wolfe is a member of the Knox Planning Board. Two years in a row, Supervisor Vasilios Lefkaditis has wanted to name him chairman of the board.