Newbro v. Freed

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that \a claim against a broker for converting funds in a free credit balance fails for the same reason as a customer's claim against a bank—the funds at issue arise from a debtor-creditor relationship and are not segregated visà-vis other accounts at the brokerage firm\
• explaining that the defendants had no “pre-existing contractual relationship” with the customer
• concluding that “a claim against a broker for converting funds in a free credit balance fails for the same reason as a customer’s claim against a bank — the funds at issue arise from a debtor-creditor relationship and are not segregated visa-vis other accounts at the brokerage firm”
• involving attempt to recover funds that had been improperly transferred from one brokerage account to another by financial consultant
• when “no affirmative misrepresentation is alleged, it is incumbent upon the party charging fraud to establish that there was a duty to disclose the omitted fact”

Source: CourtListener parenthetical corpus (CC0).