Baron v. Brackis

OPINION AND DISMISSAL ORDER

REBECCA BEACH SMITH, District Judge.

This matter comes before the court on defendants’ motion to dismiss the complaint for lack of subject matter jurisdiction, or for failure to state a claim. For the reasons set forth below, the motion to dismiss is GRANTED.

7. Factual and Procedural History

In the late 1970s, plaintiffs opened investment accounts with defendant Investec Ernst & Company, Inc. (“Investec”), a New York investment brokerage house. Defendant Frederick Gordon Brackis (“Brackis”), an employee of Investec, managed the accounts as plaintiffs’ financial…