Weil v. Shearson Lehman Bros.

WETTICK, A.J.,

— Defendant William R. Martin is a-stockbroker employed by Shearson Lehman Brothers Inc. Plaintiffs allege that Martin told various clients that he had inside information that a company was about to be acquired and that the price of this company’s stock would increase substantially once this information was publicly disclosed. Plaintiffs allege that at the time Martin made these statements, he knew that this information was false. .

Plaintiffs purchased this stock. It decreased in value. In this lawsuit, they seek to recover their losses.

Plaintiffs never spoke with. Martin. They…