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MAGNUM CORP. v. LEHMAN BROS. KUHN LOEB, INC.

No. 85-2511.

794 F.2d 198 (1986)

MAGNUM CORPORATION, William Rice, and David F. Ferrell, Plaintiffs-Appellees Cross-Appellants, v. LEHMAN BROTHERS KUHN LOEB, INC., Defendant-Appellant Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

July 14, 1986.

Attorney(s) appearing for the Case

Will Montgomery, William D. Sims, Jr., Dallas, Tex., for defendant-appellant, cross-appellee.

John M. Smith, George Piazza, Longview, Tex., for plaintiffs-appellees, cross-appellants.

Before BROWN, REAVLEY and JONES, Circuit Judges.

REAVLEY, Circuit Judge:

A stockbroker took orders from plaintiffs to buy stock at a time when it was trading in the over the counter market at $13.375.1 The conditions of the market affecting price changed significantly after the time when the first order was placed, but the plaintiffs were not informed of those new conditions. Seven days after the first orders were made, all of plaintiffs' orders were filled at a price of $15.75. Plaintiffs...

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