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

Civ. A. No. 85-362.

637 F.Supp. 419 (1986)

Buford O. BAKER, et al. v. PAINE, WEBBER, JACKSON & CURTIS, INC., et al.

United States District Court, D. New Jersey.

April 10, 1986.

Attorney(s) appearing for the Case

Clifford W. Starrett, Schenck, Price, Smith & King, Morristown, N.J. for plaintiffs.

Joseph J. Fleischman, Hannoch, Weisman, Roseland, N.J., for defendants Paine, Webber, Jackson & Curtis, Inc., Joseph A. LaFerla and Thomas F. Eggers.

STERN, District Judge.

OPINION

Plaintiffs are retired airline pilots who invested their retirement funds in discretionary accounts managed by brokers at Paine, Webber, Jackson & Curtis, Inc. Plaintiffs allege that defendants fraudulently induced them to invest in these accounts, that the accounts were willfully mismanaged, that the worth of the accounts was fraudulently misrepresented to them in monthly statements, and that as a result of these acts...

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