Lowes v. Merrill Lynch, Pierce, Fenner & Smith, Inc.

The defendant moves pursuant to CPLR 3211 (subd. [a], par. 7), to dismiss the complaint for failure to state a cause of action.

It is conceded by the defendant that by such attack the allegations as set forth in the complaint are presumed to be true.

From the complaint it appears that Goodbody & Co., Inc. (Goodbody) was a stockbrokerage firm that has, since the events in question, merged with defendant. As a result of that merger, the defendant assumed the contractual obligations and liabilities of Goodbody.

On January 5, 1971, Goodbody received and certified the signature of plaintiff on 100…