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TALLY v. DEAN WITTER REYNOLDS, INC.

Civ. A. No. 82-0375.

550 F.Supp. 585 (1982)

J.O. TALLY, Jr., Executor, Etc., Plaintiff, v. DEAN WITTER REYNOLDS, INC., Defendant. DEAN WITTER REYNOLDS, INC., Third-Party Plaintiff, v. J.O. TALLY, Jr., Third-Party Defendant.

United States District Court, District of Columbia.

November 5, 1982.

Attorney(s) appearing for the Case

Worth Rowley, Rowley & Watts, Washington, D.C., for plaintiff.

Edward M. Statland, Washington, D.C., for defendant.

DECISION AND ORDER

JACKSON, District Judge.

This is an action for breach of contract and negligence by a customer against a stockbroker who allegedly permitted an unauthorized withdrawal of funds from the customer's money market account which were later embezzled. Because the account was held by the customer in a fiduciary capacity and the funds were transferred to his personal account from which the actual embezzlement occurred, the stockbroker filed a...

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