Imgest Finance Establishment v. Shearson Lehman Hutton, Inc.

Judgment, Supreme Court, New York County (Carol H. Arber, J.), entered November 15, 1990, which found in favor of petitioner in the sum of $1,001,391.18, upon confirmation of an award in arbitration, unanimously affirmed, with costs.

Petitioner obtained an arbitration award against its broker, the respondent, for executing improper option trades. When petitioner sought confirmation of the award, respondent cross-moved to vacate the award on the ground of fraud. Specifically, respondent contends that petitioner concealed the fact that its money manager, Pelligrinelli, was also a money manager…