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MAURIBER v. SHEARSON/AMERICAN EXP., INC.

No. 82 Civ. 1802 (KTD).

546 F.Supp. 391 (1982)

Saul MAURIBER, Plaintiff, v. SHEARSON/AMERICAN EXPRESS, INC., and Judith LeWinter a/k/a Judith Cohen, Defendants.

United States District Court, S. D. New York.

August 27, 1982.

Attorney(s) appearing for the Case

Dan Brecher, New York City, for plaintiff.

Peter T. Kujawski, Harry D. Frisch, Leslie A. Klein, Theodore A. Krebsbach, New York City, for defendant Shearson/American Exp., Inc.

MEMORANDUM & ORDER

KEVIN THOMAS DUFFY, District Judge:

From January, 1980 to October, 1981, Saul Mauriber placed a substantial portion of his life savings in a discretionary customer account at Shearson/American Express, Inc. ("Shearson"), a New York corporation engaged in the investment brokerage business. Allegedly, Shearson proceeded to lose up to $250,000 of Mauriber's money principally by selling off his portfolio of "blue chip securities" and purchasing...

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