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York. In a letter to the New York attorney general’s office,
petitioner stated:
Kidder, Peabody & Co., by its own action breached
our brokerage agreement and forced a liquidation. I
refused to transfer this account to any other broker.
In my letter of May 12, 1987, I told them that I
desired to liquidate the account. I requested this
orally on several prior occasions. * * *
None of these agencies decided to take action against Kidder
Peabody; the NASD specifically determined that it could not find
that there had been a violation of its rules.
In 1989, petitioner commenced litigation against Kidder
Peabody and some of its employees in the U.S. District Court for
the Southern District of New York. In 1990, the District Court
ordered the parties to arbitrate their differences. Petitioner
sought review of this order in the U.S. Court of Appeals for the
Second Circuit. In January of 1991, the Court of Appeals
dismissed the appeal because the arbitration order was not
appealable.
In October 1991, petitioner sent a letter to the District
Court seeking permission to file a motion for injunctive relief
on the grounds that Kidder Peabody failed to liquidate his
account. Sheila Chervin, an attorney in the general counsel’s
office of Kidder Peabody, responded in a letter to the District
Court dated October 24, 1991, with a copy to petitioner. Ms.
Chervin explained that Kidder Peabody had no letter on file from
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