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MERRILL LYNCH, PIERCE, ETC. v. BOECK

No. 83-675.

127 Wis.2d 127 (1985)

377 N.W.2d 605

MERRILL LYNCH, PIERCE, FENNER & SMITH, INC., Plaintiff-Respondent, v. George V. BOECK, Defendant-Appellant-Petitioner.

Supreme Court of Wisconsin.

Decided December 11, 1985.

Attorney(s) appearing for the Case

For the defendant-appellant-petitioner there were briefs by Richard S. Florsheim, Brian W. McGrath and Foley & Lardner, Milwaukee, and oral argument by Mr. Florsheim.

For the plaintiff-respondent there was a brief by James G. Howard, Paul R. Erickson and Zirbel, Howard & Malone, S.C., Milwaukee, and oral argument by Mr. Erickson.

STEINMETZ, J.

The issues decided in this case are: (1) Does a commodities broker who undertakes to provide investment information and counsel to a customer with a nondiscretionary account, and who later learns that previously given information has been changed or was incorrect, have a fiduciary duty to disclose the latest information before the customer invests through the same broker in reliance on the original disclosure?

(2) Under what circumstances can...

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