Walzer v. Muriel, Siebert & Co.
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION
2Per curiam
Andrew Walzer appeals from the District Court’s order granting the Defendants’ motion to dismiss. For the reasons that follow, we will affirm in part and vacate in part.
Walzer opened a personal brokerage account with Muriel Siebert, Co. (“Siebert”), a New Jersey a brokerage firm, in 1980, and continued investing with Siebert for 20 years. In 1982, Walzer signed an options agreement with Siebert giving him margin privileges, and, at least since 1996, Walzer purchased securities on margin through this account. In 2002, Siebert notified Walzer that he must increase the percentage of…
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