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ILAN v. SHEARSON/AMERICAN EXPRESS, INC.

No. 83 Civ. 9319 (WCC).

632 F.Supp. 886 (1985)

Rony ILAN, Plaintiff, v. SHEARSON/AMERICAN EXPRESS, INC. and Gila Altman, Defendants.

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

December 20, 1985.

Attorney(s) appearing for the Case

Mannarino Bader & Bloom, P.C., New York City, for plaintiff; Howard D. Bader, Harvey L. Woll, of counsel.

Shearson Lehman Bros., Inc., New York City, for defendants; Harry D. Frisch, Theodore A. Krebsbach, of counsel.

OPINION AND ORDER

WILLIAM C. CONNER, District Judge:

Plaintiff Rony Ilan ("Ilan") brought this action against Shearson/American Express, Inc. ("Shearson"), a securities brokerage firm, and Gila Altman ("Altman"), one of Shearson's brokers, alleging in essence that Altman, with Shearson's knowledge and consent, fraudulently induced him to trade on margin and churned his account, resulting in losses of approximately $100,000. Ilan alleges that Altman and Shearson...

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