Appellate Division of the Supreme Court of the State of New York July 10, 1979 (Thomson McKinnon Securities, Inc. v. Hornung)

lead-opinion

OPINION OF THE COURT

Bloom, J.

This is an action by a registered security broker against a customer to recover for losses incurred as a result of a "short sale” made by the customer.

Defendant is a rather sophisticated trader in securities who maintained multiple accounts with numerous security dealers. Plaintiff is one such dealer.