Calvi

MEMORANDUM OPINION

Defendant Prudential Securities, Inc.’s Motion for Summary Judgment came on for hearing before the Court, the Honorable Wflliam J. Rea, Judge, presiding, on June 27, 1994. Lionel Z. Glancy of the Law Offices of Lionel Z. Glancy appeared on behalf of plaintiff Teodora Calvi. Gregory Boss and Janice Simmons of Keesal, Young & Logan appeared for defendant Prudential Securities, Inc. On July 8, 1994, after having reviewed the file in this case, the papers submitted in favor of and in opposition to the instant motion, as well as the arguments of counsel at the hearing on this matter, the Court entered an order granting the motion. The Court now issues this memorandum opinion, setting forth its findings of fact and conclusions of law.

BACKGROUND

Plaintiff Teodora Calvi (“Calvi”) is an allegedly unsophisticated widow who decided to invest the proceeds of her husband’s life insurance policy when he died some years ago. Thus, in 1985, Calvi opened two securities accounts with defendant Prudential Securities (“Prudential”). Her complaint alleges that her broker, Prudential employee Thomas Stapelton, induced her to purchase three securities that were not “suitable” in…