Cohen v. Bankers Trust Co.

MEMORANDUM AND ORDER

CONNER, District Judge:

This is a diversity action alleging negligence and breach of fiduciary duty on the part of Bankers Trust Company (“Bankers”) and Bradford Stock Services, Inc., operator of Bankers’ stock transfer department. Plaintiff alleges that defendants erroneously reissued his stock in a Rule 144 transaction in the street name of his broker, Weis Securities, Inc. (“Weis”). As a result, the stock was commingled with other of Weis’ securities held in street name and a portion of it lost to plaintiff when Weis went into bankruptcy. Plaintiff seeks to hold…