First Union Discount Brokerage Services, Inc., Counter-Defendant v. Nick P. Milos, Catherine P. Milos, Counter-Plaintiffs

TJOFLAT, Chief Judge:

The stock market crash of October 1987 signaled the beginning of the end of the booming 1980s. It shattered dreams, ruined investors, and precipitated this litigation. A discount broker sued one of its customers to recover the post-liquidation debit balance in the customer’s account following substantial losses sustained during the crash. The customer refused to pay and answered the broker’s suit with a seven-count counterclaim. The district court dismissed one count and later granted summary judgment in favor of the discount broker on the broker’s complaint and the…