Opinion ID: 781210
Heading Depth: 2
Heading Rank: 2

Heading: McCarthy and Blodgett

Text: 7 McCarthy and Blodgett were officers of Atlanta-One, Inc. Atlanta-One specialized in the trade of foreign currency options on the Philadelphia Stock Exchange. McCarthy served as its president and was registered as a general securities principal. Blodgett was the company's vice president and was registered as a securities principal and an options principal. 8 Between April and November 1990, Atlanta-One charged unfair commissions to its clients in 353 different transactions involving foreign currency options. The commissions charged by Appellants were so excessive that it was virtually impossible for their clients to break even, much less profit, from their options trading. The commissions ranged from $50 to $89 per options contract. In the vast majority of cases, Appellants charged commissions that amounted to forty percent or more of their customers' initial investment. In fact, only twenty-four percent of Appellants' options were ever sold at a profit.