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SHULL v. DAIN, KALMAN & QUAIL, INC.

No. 76-1935.

561 F.2d 152 (1977)

Daniel L. SHULL, Appellant, v. DAIN, KALMAN & QUAIL, INC., a corporation, and Harry Ware, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided August 26, 1977.

Rehearing Denied September 26, 1977.

Attorney(s) appearing for the Case

John Stevens Berry (made rebuttal), Friedman & Berry, Lincoln, Neb., filed appearance, made argument, filed appendix, appellant's brief and appellant's reply brief for appellant.

James H. O'Hagan, Dorsey, Windhorst, Hannaford, Whitney & Halladay, Minneapolis, Minn., Kenneth C. Stephan, Lincoln, Neb. (argued), and Roger Magnuson, Edward Pluimer, Minneapolis, Minn., on brief, for appellees.

Before BRIGHT and HENLEY, Circuit Judges, and BENSON, Chief District Judge.

HENLEY, Circuit Judge.

During 1972 and 1973 plaintiff, Daniel L. Shull of Lincoln, Nebraska, speculated heavily in a certain corporate stock, referred to in the record and briefs as Champion Home Builders stock (Champion). In 1972 he bought largely on margin and borrowed large sums of money from Nebraska banks to make the required down payments and meet margin calls. During most of the first half of 1972 the price of the stock rose sharply; it then fell dramatically...

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