Horowitz v. Securities Clearance Corp.

The nature of the action is a suit to recover certain securities or their value. Plaintiff’s claim is that he pledged these securities to secure a loan made to him by the corporate defendant. He tendered the amount of the loan and interest but could not get his securities. He also claims that these securities were re-hypothecated with the defendants Ackerman contrary to his agreement with the corporate defendant, of which agreement he claims the Ackermans had knowledge. By this motion he seeks to enjoin the Ackermans from *740engaging in any further transactions in regard to the securities. He…