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ARTICLE · 30 JUNE 2008

Compliance @ Gowlings: Landmark Verdict On Trading

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Judge throws out reimbursement bid over losses

CanadaStrategy
Ellen Bessner
Ellen Bessner
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Judge throws out reimbursement bid over losses

Everyone in the securities industry will want to give Superior Court Justice Thomas Lederer a big hug after reading this article describing the March, 2008, decision in which he dismissed a client's claim when he sought to have his advisor (Leach) and investment dealer (Merrill Lynch) reimburse him for losses after seeking high returns in a risky investment strategy.

Judge Lederer made the effort to understand this industry and had insight into aggressive clients who want to take risks and enjoy returns but sue their advisors and their investment dealers intending for them to absorb the losses.

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