Marchese v. Shearson Hayden Stone, Inc.
United States District Court for the Central District of California
644 F. Supp. 1381 (1986)
- Written by Brett Stavin, JD
Facts
Dominic Marchese (plaintiff) brought a declaratory-judgment action against Shearson Hayden Stone, Inc. (Shearson) (defendant), a futures commission merchant (FCM), seeking a declaration that Shearson had no right to retain certain interest and increment earned on margin funds held by Shearson on behalf of their customers. The action was brought on behalf of a class of persons who provided money, securities, or property to Shearson as margin funds for their accounts.
Rule of Law
Issue
Holding and Reasoning (Byrne, J.)
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