Carl M. Limbaugh v. Merrill Lynch, Pierce, Fenner & Smith, Inc., a Corporation

ALAIMO, Chief District Judge:

In its second appearance before this Court, 1 this case presents a question concerning Alabama damages law. The district court granted summary judgment in favor of Merrill Lynch on the basis that appellant Limbaugh had not demonstrated any actual injury and, hence, was not entitled to recover either compensatory or punitive damages under Alabama law. We AFFIRM.

I

This is a diversity suit by an investor (Limbaugh) against his broker (Merrill Lynch) for unlawful conversion. Merrill Lynch allegedly converted monies from Limbaugh’s “Ready Assets” account to recoup the…