Shearson Hayden Stone, Inc. v. Perrier

Rees, J.:

Plaintiff is a brokerage firm. On behalf of its customers, it engages in commodities futures trading on various ex*90changes of which it is a member. Defendant was a customer of plaintiff’s. Plaintiff brought this action for the balance claimed to be due and owing on defendant’s account. Defendant asserted a counterclaim for damages to which he claimed entitlement in the event recovery was granted on plaintiff’s claim. Following bench trial, the trial judge denied recovery by either party. Plaintiff appeals.

The parties’ extensive elucidation of the essentially undisputed facts and of…