Martin v. Heinold Commodities, Inc.

Plaintiff, John R. Martin, a resident of Oklahoma, on behalf of himself and all others similarly situated, filed a four-count complaint in the circuit court of Cook County against defendant, Heinold Commodities, Inc. (H.C.I.). Counts I and II alleged defendant’s breach of its fiduciary duty in connection with plaintiff’s purchases of London Commodities Options (LCOs) in that defendant failed to disclose facts material to these purchases. Specifically, plaintiff alleged that defendant charged substantial additional commissions on each LCO which it concealed in a fee labeled “foreign service…