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MERRILL LYNCH PIERCE FENNER & SMITH INC. v. NORA-JOHNSON

797 A.2d 226 (2002)

351 N.J. Super. 177

MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED, and Nicholas Denucci, Plaintiffs-Appellants, v. Jacqueline NORA-JOHNSON, TTE u/a DTD 6/27/94, Defendant-Respondent.

Superior Court of New Jersey, Appellate Division.

Decided May 23, 2002.

Attorney(s) appearing for the Case

David J. Libowsky, Florham Park, argued the cause for appellants (Bressler, Amery & Ross, attorneys; Mr. Libowsky and Dominic F. Evangelista, on the brief).

John J. Reddy, Jr., argued the cause for respondent (Reddy & Reddy, attorneys; Mr. Reddy, on the brief).

Before Judges CONLEY, LEFELT and LISA.

The opinion of the court was delivered by LEFELT, J.A.D.

Defendant Jacqueline Nora-Johnson is co-trustee, with her brother Frank Nora, of the Elizabeth Nora Trust. Jacqueline contends that with Frank's consent, but without her knowledge or approval, various unsuitable trades were executed by plaintiffs Merrill Lynch, Pierce, Fenner & Smith and Nicholas Denucci, a registered representative of Merrill Lynch. To challenge these trades, which caused losses to be incurred...

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