Grace v. Livingstone

WYZANSKI, District Judge.

This is a diversity jurisdiction ease sounding in contract, in which the parties waived a jury. Action is brought to recover sums claimed to be owing from defendant, a stock dealer, because of his failure promptly to honor his obligation to pay sums due upon plaintiffs’ exercises of what are called “puts”, that is, options held by plaintiffs, as customers, and entitling them to require defendant, as principal, to purchase specified securities at agreed prices.

Plaintiff Grace is a citizen of New York. Plaintiff Fatima Charities, Inc., is a New Jersey corporation.…