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MORGAN STANLEY DW INC. v. AFRIDI

13 A.D.3d 248 (2004)

788 N.Y.S.2d 11

MORGAN STANLEY DW INC., Respondent v. ABDUL AFRIDI, Appellant.

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

December 21, 2004.

In July 1999, respondent-appellant Abdul Afridi (Afridi), a retiree, put the bulk of his life savings into an investment account at petitioner-respondent brokerage firm (Morgan Stanley). Afridi opened the Morgan Stanley account at the behest of his son, Adel, who was then a newly licensed broker employed by Morgan Stanley. Afridi alleges that Adel, the broker with responsibility for his account, put the funds into risky and speculative...

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