Mars

PIaintiff/appellant Marshall Mars (appellant) appeals from the judgment entered upon the granting of the motion for summary judgment of defendant/respondent Wedbush Morgan Securities, Inc. (respondent). Appellant had sued First United Securities Group (First United); respondent; and Dennis Kantor, First United’s owner, in an attempt to recover investment losses appellant suffered allegedly because of the defendants’ actions.

For the reasons discussed below, we affirm.

Facts and Procedural History

On September 9, 1988, appellant filed his complaint against First United, respondent, and Kantor for breach of fiduciary duty, fraud, negligence, unauthorized trading of stock, and excessive trading of stock. Therein, appellant alleged the following. In November 1986, First United, represented by Kantor, became appellant’s securities broker. At that time, First United and Kantor promised they would fully inform him of all material facts affecting each trading activity executed for him, would not trade on his account with borrowed funds or increase his financial risks without first discussing the matter with him and obtaining his consent, would trade in accordance with all…