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O'BRIEN v. SHEARSON HAYDEN STONE

No. 44663.

90 Wn.2d 680 (1978)

586 P.2d 830

JOSEPH E. O'BRIEN, ET AL, Appellants, v. SHEARSON HAYDEN STONE, INC., Respondent.

The Supreme Court of Washington, En Banc.

October 19, 1978.

Attorney(s) appearing for the Case

Carl G. Koch and Terence P. Lukens (of Karr, Tuttle, Koch, Campbell, Mawer & Morrow), for appellants.

Fredric C. Tausend and Rex B. Stratton (of Schweppe, Doolittle, Krug, Tausend & Beezer), for respondent.

DOLLIVER, J.

Plaintiffs O'Brien appeal from the dismissal by summary judgment of their class action suit against the defendant brokerage firm. The material facts are not in dispute. Plaintiffs allege Washington residents who maintained margin accounts with defendant were charged usurious interest rates on those accounts between April 1974 and January 1975. A margin account is a separate portion of a customer's general account in which a customer purchases securities...

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