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FIRST UNION DISCOUNT BROKERAGE SERVICES v. MILOS

No. 91-5818.

997 F.2d 835 (1993)

FIRST UNION DISCOUNT BROKERAGE SERVICES, INC., Plaintiff-Appellee, Counter-Defendant, v. Nick P. MILOS, Catherine P. Milos, Defendants-Appellants, Counter-Plaintiffs.

United States Court of Appeals, Eleventh Circuit.

August 9, 1993.

Attorney(s) appearing for the Case

Robert Wayne Pearce, Yueh-Mei Kim Nutter, Ft. Lauderdale, FL, for appellants.

Nancy A. Copperthwaite, Keith Olin, Miami, FL, for appellee.

Before TJOFLAT, Chief Judge, EDMONDSON, Circuit Judge, and DYER, Senior Circuit Judge.

TJOFLAT, Chief Judge:

The stock market crash of October 1987 signaled the beginning of the end of the booming 1980s. It shattered dreams, ruined investors, and precipitated this litigation. A discount broker sued one of its customers to recover the post-liquidation debit balance in the customer's account following substantial losses sustained during the crash. The customer refused to pay and answered the broker's suit with a seven-count counterclaim. The district...

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