J.C. Booth v. Peavey Company Commodity Services

HEANEY, Circuit Judge.

The trial court granted the defendant’s motion for a directed verdict at the close of the plaintiff’s case. The plaintiff appeals contending that he presented evidence from which the jury could have found that the defendant had “churned” plaintiff’s commodity account for its benefit rather than that of the plaintiff. We affirm.

While the point was not argued by the parties, we feel it necessary to consider first whether an investor has a right to institute an action against a dealer for churning a commodity account. Such an action is not specifically provided for by the…