THOMSON McKINNON SEC. INC. v. WARD


179 A.D.2d 557 (1992)

Thomson McKinnon Securities Inc., Appellant-Respondent, v. John A. Ward, Respondent-Appellant Thomson McKinnon Securities Inc., Respondent, v. John A. Ward, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

January 28, 1992


Prior to the stock market crash in October 1987, defendant, a seventy-five-year-old retired veterinarian, was increasingly and heavily invested in high-risk option trading with plantiff-broker. He had dealings in such securities since 1980 and had been actively buying and selling stock securities since 1948. Due to the market crash, there was a drastic decrease in the value of defendant's account which plaintiff liquidated to meet margins. Plaintiff brought an action to recover...

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