Ascot Fund Ltd. v. Ubs Painewebber, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
*314Order, Supreme Court, New York County (Richard B. Lowe, III, J.), entered January 3, 2005, which granted defendant PaineWebber’s motion pursuant to CPLR 3211 (a) to dismiss the amended complaint, unanimously affirmed, with costs.
PaineWebber, as a broker, owed no fiduciary duty to plaintiff purchaser of securities (see Fesseha v TD Waterhouse Inv. Servs., 305 AD2d 268 [2003]; Matter of Dean Witter Managed Futures Ltd. Partnership Litig., 282 AD2d 271 [2001]). There is no evidence that the simple broker-customer relationship here included any investment advice given by PaineWebber, or any…
2Cases cited6 opinions
- Kaufman v. CohenAppellate Division of the Supreme Court of the State of New York · 2003
- Fesseha v. TD Waterhouse Investor Services, Inc.Appellate Division of the Supreme Court of the State of New York · 2003
- Bissell v. Merrill Lynch & Co., Inc.District Court, S.D. New York · 1996
- Pessin v. Chris-Craft Industries, Inc.Appellate Division of the Supreme Court of the State of New York · 1992
- Yang v. Morgan Stanley Dean WitterAppellate Division of the Supreme Court of the State of New York · 2001
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- Matter of Pokoik v. 575 Realties, Inc.Appellate Division of the Supreme Court of the State of New York · 2016
- In Re Wells Fargo Cash Sweep LitigationDistrict Court, N.D. California · 2025
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