Miller v. Dean Witter & Co.

Plaintiff sues to recover his investment of $1,950 in the purchase of 100 shares of common stock of Inter American Industries, Ltd. This stock was purchased for plaintiff’s account on May 12,1967 by defendant, plaintiff’s stockbroker. Seven days thereafter, the Securities and Exchange Commission temporarily suspended all over-the-counter trading in the stock.

For reasons hereinafter discussed defendant did not deliver stock certificates for these securities to plaintiff until October 24, 1967, at which time the stock was virtually worthless. Insofar as the record discloses the suspension order…