Goldman, Sachs & Co. v. Blondis

Memorandum

LEIGHTON, District Judge.

I

This litigation is the outgrowth of a controversy between a New York stock broker and an Illinois owner of 23,000 shares of Bucyrus-Erie common stock. In a three-count complaint based on claimed violations of the Securities Exchange Act of 1934 and a breach of contract, it is alleged by the broker that the owner had instructed it to sell the shares but later refused to make delivery of the certificates. The issue before the court, however, arises from a motion by the broker to compel the owner’s former lawyer to give a deposition and answer questions…