«OFFICE OF PROCEEDINGS ) JOE H. LECKRONE, ) ) Complainant ) v. CFTC Docket ) No. 98-R204 ) LIND-WALDOCK & COMPANY ) ) Respondent ) INITIAL DECISION ...»
Leckrone has not shown, however, that he is entitled to the value of a fill on order 922, because the market indeed never returned to the 5932 level. Nor is he entitled to damages beyond those attributable to the particular position he assumed as a direct result of the mistaken confinnation given him. Any other profits he thought he had earned and any other trades he made during the same period oftime in other contracts are not relevant to the trade he made in direct reliance upon the false information given him by Lind-Waldock's clerk.
Lind-Waldock's actions go beyond mere negligence. 3 The insistence of the clerk that he was confirming order 922 by confirming a trade under that ticket's terms but failing to check on the See Do v. Lind-Waldock & Company, [1994- I 996 Transfer Binder] Comm. Fut. L. Rep. (CCH) ~ 26,5 I 6 (CFTC 3 September 27, I 995) (broker liable for recklessly failing to ascertain status of customer order).
6 order when the customer repeatedly, but futilely, tried to direct the clerk's attention to that particular order number, is found to constitute reckless transmission of false information to Leckrone, and is further found to constitute a direct violation of Section 4b(a)(l)(ii) of the Commodity Exchange Act.
Violations having been found, respondent Lind-Waldock is ORDERED to pay reparations to complainant Joe H. Leckrone in the amount of $1,096.40, plus prejudgment interest on that amount compounded annually at the rate of 4.966% from June 17, 1998, to the date of payment, plus $125.00 in costs as complainant's filing fee.
Dated: July 30, 1999