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McNEAL v. PAINE, WEBBER, JACKSON & CURTIS, INC.

38640, 38641.

249 Ga. 662 (1982)

293 S.E.2d 331

McNEAL v. PAINE, WEBBER, JACKSON & CURTIS, INC. et al.; and vice versa.

Supreme Court of Georgia.

Decided July 8, 1982.

Attorney(s) appearing for the Case

Edward L. Savell, for appellant.

Gary W. Hatch, Dom H. Wyant, William L. Ballard, for appellees.

CLARKE, Justice.

McNeal, a customer of Paine, Webber (a securities broker-dealer), filed a suit in federal court against Paine, Webber alleging violations of Section 10 (b) of the Securities and Exchange Act of 1934, 15 USCA § 78J (b) and S. E. C. Rule 10b-5 [17 CFR § 240.10b-5]. In the federal action McNeal contended that Paine, Webber's employee Skone had illicitly "churned" McNeal's file to generate commissions. Damages sought represented the amount allegedly...

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