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Burns, et al. v. Prudential Securities

Date: 09-30-2002

Case Number: 99CV0438

Judge: Richard M. Rogers

Court: Court of Common Pleas, Marion County, Ohio

Plaintiff's Attorney: Scott Starr of Austen, Tribbett, Myers and Miller, Longansport, Indiana


Thomas A. Hargett of Maddox Hargett & Caruso, Indianapolis, Indiana


David P. Meyer, Columbus, Ohio

Defendant's Attorney: Skip Keesal

Terry Ross
and
Stacey Garrett of Keesal, Young & Logan, Long Beach, California for Jeffrey Pickett


Michael Ungar of Ulmer & Berne, Cleveland, Ohio

Description:
Three hundred plaintiffs brought suit for securities fraud against Prudential Securities and its employee Jeffrey Pickett who made unauthorized sales of the plaintiffs' securities. Pickett believed that the market was going to crash and sold his clients' stock in an effort to protect them from the anticipated downturn in the market. Pickett made 2,600 trades without commission and without consent from the owners of the assets. He did not think that he had time to contact all three hundred of the clients and therefore did not contact any of them. Prudential refused to replace the $40 million lost by the plaintiffs when the stocks increased in value rather than turning down as anticipated by Pickett.
Outcome:
Plaintiff's verdict for $11.7 million in compensatory damages and $250 million in punitive damages.
Plaintiff's Experts:
Unknown
Defendant's Experts:
Unknown
Comments:
None
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About This Case

What was the outcome of Burns, et al. v. Prudential Securities?

The outcome was: Plaintiff's verdict for $11.7 million in compensatory damages and $250 million in punitive damages.

Which court heard Burns, et al. v. Prudential Securities?

This case was heard in Court of Common Pleas, Marion County, Ohio, OH. The presiding judge was Richard M. Rogers.

Who were the attorneys in Burns, et al. v. Prudential Securities?

Plaintiff's attorney: Scott Starr of Austen, Tribbett, Myers and Miller, Longansport, Indiana Thomas A. Hargett of Maddox Hargett & Caruso, Indianapolis, Indiana David P. Meyer, Columbus, Ohio. Defendant's attorney: Skip Keesal Terry Ross and Stacey Garrett of Keesal, Young & Logan, Long Beach, California for Jeffrey Pickett Michael Ungar of Ulmer & Berne, Cleveland, Ohio.

When was Burns, et al. v. Prudential Securities decided?

This case was decided on September 30, 2002.