Word: sweigert
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Dates: during 1960-1969
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Earlier this year, a California federal court judge, William T. Sweigert, claimed that if Mrs. Hecht's portfolio had been left untouched from 1957 to 1964, its value would have increased from $533,161 to $1,026,775. Instead, her account plunged to $251,308. The judge found that Mrs. Hecht's account had been "grossly and unfairly churned" by more than 10,000 transactions in an effort to generate commissions. Judge Sweigert therefore ordered that the firm pay Mrs. Hecht $504,391 in damages. Harris, Upham is appealing that decision...