ALTSCHUL v. PAINE, WEBBER, JACKSON & CURTIS

No. 79 Civ. 2852(MEL).

518 F.Supp. 591 (1981)

Arthur ALTSCHUL and Ida Altschul, Plaintiffs, v. PAINE, WEBBER, JACKSON & CURTIS INCORPORATED, Defendant and Third-Party Plaintiff, v. Richard J. ALTSCHUL, Third-Party Defendant.

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

July 9, 1981.


Attorney(s) appearing for the Case

Norman K. Rosen, New York City, for plaintiffs.

Beekman & Bogue, New York City, for defendant and third-party plaintiff; Martin P. Unger, Richard Fooshee, Eva H. Posman, New York City, of counsel.


LASKER, District Judge.

Arthur and Ida Altschul sue to recover losses sustained in their securities account on the ground of alleged mismanagement on the part of Paine, Webber, Jackson & Curtis Incorporated ("Paine Webber"). The Altschuls claim that the account was churned, unsuitable speculative securities were traded for the account, federal and house margin maintenance requirements were violated, and Paine Webber's conduct constituted common law negligence...

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