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ZARETSKY v. E. F. HUTTON & CO., INC.

No. 79 Civ. 1250.

509 F.Supp. 68 (1981)

Betty B. ZARETSKY and Morton Zaretsky, Plaintiffs, v. E. F. HUTTON & COMPANY, INC., Avest, Inc., and Tom Hanlon, Defendants.

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

January 23, 1981.

Attorney(s) appearing for the Case

Stuart C. Goldberg, New York City, for plaintiffs.

Cahill, Gordon & Reindel by Thomas F. Curnin, Donald S. Parker, New York City, for defendant E. F. Hutton & Co., Inc.

J. Kenneth Thompson, New York City, for defendant Tom Hanlon.

Howard I. Rhine, Kramer, Coleman & Rhine, New York City, for defendant Advest, Inc.

MEMORANDUM OPINION AND ORDER

LOWE, District Judge.

This is an action based on the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. §§ 78a et seq.,1 in which plaintiffs seek damages based on the following claims of wrongdoing: (1) excessive trading ("churning");2 (2) unsuitable recommendations as to the purchase and sale of stock...

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