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GORDON v. duPONT GLORE FORGAN INCORPORATED

No. 73-1382.

487 F.2d 1260 (1973)

William H. GORDON and Fern Gordon, his wife, Plaintiffs-Appellees-Cross Appellants, v. duPONT GLORE FORGAN INCORPORATED, Defendant-Appellant-Cross Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied January 10, 1974.

Attorney(s) appearing for the Case

Earl D. Waldin, Jr., Paul M. Stokes, Miami, Fla., for defendant-appellant.

Richard B. Marx, Miami, Fla., for plaintiffs-appellees.

Before THORNBERRY, SIMPSON and CLARK, Circuit Judges.

THORNBERRY, Circuit Judge:

The court below awarded the Gordons $20,000 for damages resulting from defendant brokerage firm's failure to notify them that their account was undermargined, a breach of its fiduciary duty. On appeal duPont contends that the Gordons' knowledge of their account's undermargined condition operates as ratification and a bar to this suit, and duPont is entitled to recover the deficiency remaining after it closed the Gordons' account. On cross...

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