FESSEHA v. TD WATERHOUSE INV.


193 Misc.2d 253 (2002)

747 N.Y.S.2d 676

YOUM FESSEHA, on Behalf of Himself and All Others Similarly Situated, Plaintiff, v. TD WATERHOUSE INVESTOR SERVICES, INC., et al., Defendants.

Supreme Court, New York County.

March 20, 2002.


Attorney(s) appearing for the Case

Brobeck Phleger & Harrison, LLP (Francis S. Chlapowski of counsel), for defendants.

Shalov Stone & Bonner LLP (James Bonner of counsel), for plaintiff.


OPINION OF THE COURT

CHARLES EDWARD RAMOS, J.

Defendants TD Waterhouse Investor Services, Inc. (TD Waterhouse) and John Chapel, president of defendant, move pursuant to CPLR 3211 (a) (1) and (7); 3016 and 3013 to dismiss the action.

The issue in this action is whether a broker is required when making a margin call to give a customer notice and an opportunity to cure by delivering additional cash or securities when the equity in the account falls...

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