Legal Opinion
Thomson McKinnon Securities, Inc. v. Hornung
Appellate Division of the Supreme Court of the State of New York
Decided July 10, 1979PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
Bloom, J.
This is an action by a registered security broker against a customer to recover for losses incurred as a result of a "short sale” made by the customer.
Defendant is a rather sophisticated trader in securities who maintained multiple accounts with numerous security dealers. Plaintiff is one such dealer. In the early part of January, 1975, defendant instructed plaintiff to sell for his account 2,000 shares of stock of a firm known as Medtronic, Inc. That sale was effected on January 10, 1975. On January 21, 1975, pursuant to defendant’s instructions, an additional…
2Cases cited4 opinions
- Drasner v. Thomson McKinnon Securities, Inc.District Court, S.D. New York · 1977
- Bell v. JD Winer & Co., Inc.District Court, S.D. New York · 1975
- Freeman v. Marine Midland Bank-New YorkDistrict Court, E.D. New York · 1976
- Scudder & German v. PearlsteinSupreme Court of the United States · 1971
3Cited by5 opinions
- Shearson Lehman Brothers, Inc. v. M & L InvestmentsCourt of Appeals for the Tenth Circuit · 1993
- Berliner Handels-Und Frankfurter Bank v. Vincent CoppolaAppellate Division of the Supreme Court of the State of New York · 1991
- Jeremias v. Shearson Hayden Stone, Inc.Appellate Division of the Supreme Court of the State of New York · 1979
- Shearson Lehman Bros. v. M & L InvestmentsDistrict Court, D. Utah · 1991
- Shearson Lehman Bros. v. M & L InvestmentsCourt of Appeals for the Tenth Circuit · 1993