Hansen v. Shearson/American Express, Inc.

MEMORANDUM

LOUIS H. POLLAK, District Judge.

This case began as a suit by Elizabeth Hansen against the brokerage firm of Shearson/American Express (“Shearson”) and two of its brokers, C. Joseph Manfredo (“Manfredo”) and S. Paul Palmer. Plaintiff alleged that defendants had mishandled her securities account. Shearson filed a third-party complaint against Arthur L. Guptill (“Guptill”), alleging that Guptill, plaintiff’s brother-in-law, had ratified the allegedly improper transactions. Guptill then filed claims, which he captioned generally as “counterclaims and crossclaims,” against Shearson,…