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LEE v. FIRST UNION NAT. BANK

A-58 September Term 2008.

971 A.2d 1054 (2009)

199 N.J. 251

Margaret L. LEE, Plaintiff-Respondent, v. FIRST UNION NATIONAL BANK, a Banking Corporation, Wachovia Bank, N.A., a Banking Corporation, Individually and as Successor in Interest to First Union National Bank, First Union Brokerage Services, Inc., and Gregory Mack, Defendants-Appellants.

Supreme Court of New Jersey.

Decided June 3, 2009.

Attorney(s) appearing for the Case

Beverly Jo Slaughter, a member of the Virginia bar, argued the cause for appellants (Stark & Stark, attorneys; Thomas B. Lewis and Amy Beth Dambeck, Lawrenceville, on the brief).

Henry Gurshman, Metuchen, argued the cause for respondent.

Justice LaVECCHIA delivered the opinion of the Court.

In this appeal we must determine whether a securities broker's fraudulent activity, in connection with his handling of client funds intended for the purchase of a security, subjects him and the bank and brokerage firm that employed him to liability under the Consumer Fraud Act (CFA or Act), N.J.S.A. 56:8-1 to -106. Our analysis of that issue necessitates consideration of three distinct arguments advanced...

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