Mitcham v. Blalock

Benham, Chief Justice.

In early 1987, appellant Michael Mitcham established an account at Atlanta Securities & Investments (ASI) and invested $46,000 through ASI and broker Jones. Jones bought and sold high-risk securities without Mitcham’s authorization and made false statements to Mitcham when questioned about the activity on Mitcham’s account. When Mitcham sought to close the account in August 1989, the broker admitted that all Mitcham’s money had been lost. After he was unsuccessful in his attempts to resolve the problems with ASI’s management, Mitcham hired present counsel and filed an…