Schetter
Schetter v. Prudential-Bache Securities Inc.
Opinion
Opinion
King, J.
FINDINGS OF FACT AND CONCLUSIONS OF LAW
This matter came on for trial before the Honorable Samuel P. King on March 1 — 9, 1988. Plaintiffs Howard Schetter, Frank E. Schetter and Nanci Johnston, as Trustees of the Schetter Electric Inc. Defined Benefit Plan and Trust (“Schetter Electric Plan”), filed this action against defendants Prudential-Bache Securities Inc. (“Prudential-Bache”) and Jamie R. Gittins seeking approximately $200,000.00 in general damages and $5 million in punitive damages arising from the alleged mishandling of a brokerage account. Count I of the Complaint for the alleged violation of Rule 10b-5 promulgated pursuant to the Securities Exchange Act of 1934 was tried to a jury. On March 9, 1988, the jury returned a verdict in favor of defendants Prudential-Bache and Jamie R. Gittins bn the Rule 10b-5 claim.
Counts II and III of the Complaint alleged violations of the Employee Retirement Income Security Act, 29 U.S.C. §§ 1001 , et seq. (“ERISA”) and were tried by the Court. All other counts of the Complaint were either voluntarily dismissed by plaintiffs or were previously dismissed by the Court.