UBS Securities, Inc. v. Tsoukanelis

LASKER, District Judge.

This action arises from the 1989 acquisition of the fruit juice business of a company called Moser Farms Dairy, Inc. by Natural Country Farms, Inc. The moving force behind the acquisition was Harry Tsoukanelis, the individual defendant.

Tsoukanelis approached UBS Securities in 1989 for advice and assistance in raising the requisite capital to acquire Moser Farms Dairy’s business. UBS had some difficulty finding interested investors and ultimately, to bring the transaction to a close, decided to participate in the investment by purchasing 25 shares of Natural Country…