BROWN v. MERRILL LYNCH, PIERCE, FENNER, ETC.

No. 81-293.

640 P.2d 453 (1982)

James E. BROWN and Helen Brown, husband and wife, Plaintiffs and Appellants, v. MERRILL LYNCH, PIERCE, FENNER & SMITH, INC., a corporation; John E. Barbo, individually and as an employee or agent; & Dick Spalding, Defendants and Respondents.

Supreme Court of Montana.

Decided February 11, 1982.


Attorney(s) appearing for the Case

Wright, Tolliver, Guthals, Prater & Leroy, Pierre L. Bacheller argued, Billings, Bridger Law Office, Bridger, for plaintiffs and appellants.

Crowley, Haughey, Hanson, Toole & Dietrich, Robert Lee argued, Billings, for defendants and respondents.


HASWELL, Chief Justice.

Plaintiffs James and Helen Brown brought an action in negligence and fraud against the brokerage firm of Merrill Lynch, Pierce, Fenner & Smith, Inc., (Merrill Lynch) and its agents seeking to recover actual and punitive damages. Summary judgment was granted to the defendants by the District Court of Yellowstone County. Plaintiffs appeal.

In 1979 James Brown bought and sold gold coins at a profit of approximately $44,000. Brown learned...

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