Mullin v. Cross

I JOAN BERNARD ARMSTRONG, Chief Judge.

This is a suit to recover investment losses. In January 2000, Michael Mullin deposited a sum of money into an account *667with Iberia Bank. Thereafter, Mr. Mullin and his wife, the plaintiffs herein, decided to invest the funds with defendant, Iberia Financial Services, L.L.C., (Iberia) a wholly owned subsidiary of Iberia Bank. To that end, the Mullins met with defendant James Cross, an Iberia employee, to set up an investment account. After having met with Mr. Cross, the Mullins signed an investment account agreement with ProEquities, Inc., Iberia’s clearing…