7 results for 'cat:"Fraud" AND cat:"Securities" AND cat:"Fiduciary Duty"'.
J. Robinson preserves certain claims for breach of fiduciary duty, constructive fraud, negligence and violations of the North Carolina Securities Act in this lawsuit between 16 aging investors and related financial groups that allegedly recommended bad investments to the investors. Some of those allegations are well made, while others fail to warrant relief.
Court: North Carolina Business Court, Judge: Robinson, Filed On: February 26, 2024, Case #: 2024-NCBC-10, Categories: fraud, securities, fiduciary Duty
J. Trauger denies the plaintiff nonprofit corporation's motion for a preliminary injunction and partially grants the fund defendants' dismissal motion in this lawsuit asserting claims under the federal Exchange Act, as well as the Tennessee Securities Act and the Tennessee Blue Sky Law. The complaint alleges that the defendants misrepresented that a certain fund was a success and that they failed to disclose that it "had been losing hundreds of thousands of dollars in 2021." However, the corporation fails to show irreparable harm, for purposes of the requested injunction, as it only entrusted money to the defendants. Accordingly, its alleged injury could be remedied "with economic damages at the conclusion of litigation."
Court: USDC Middle District of Tennessee , Judge: Trauger, Filed On: February 20, 2024, Case #: 3:23cv685, NOS: Securities/Commodities/Exchange - Other Suits, Categories: fraud, securities, fiduciary Duty
J. Hicks grants the Securities and Exchange Commission's motion for partial summary judgment in its case against a bestselling author and wealth coach that sold oil and gas securities as an unregistered broker. No question of material fact exists that she acted as an investment adviser who failed to disclose conflicts of interest such as her entitlement to compensation for the sales. Claimed exclusions do not exempt the coach and her associates from their fiduciary duties.
Court: USDC Nevada, Judge: Hicks, Filed On: February 16, 2024, Case #: 3:22cv269, NOS: Securities/Commodities/Exchange - Other Suits, Categories: fraud, securities, fiduciary Duty
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J. Gordon dismisses a counterclaim brought by the borrower who defaulted in this suit brought by the lenders on allegations of fraudulent transfer of stock. A breach of fiduciary duty claim alleges the stock transfer resulted in unjust enrichment to the company owners while they failed to pay the debt. The owners say the lenders intentionally assisted the breach of a duty through their interaction with other parties, and the "shifting" allegations do not give the lenders fair notice of who is asserting the claim, in what capacity, and on what factual basis.
Court: USDC Nevada, Judge: Gordon, Filed On: July 25, 2023, Case #: 2:22cv1206, NOS: Other Fraud - Torts - Personal Property, Categories: fraud, securities, fiduciary Duty
J. Peterson denies the brother, corporate officer and company's motion to dismiss the sister's lawsuit claiming she was deceived and pressured into selling her 20% ownership interest in the family business for $1.3 million before the brother sold the company one year later for $162 million, effectively defrauding her of around $32 million she would have received from the sale if she had not unloaded her shares at a falsely deflated value. The sister has pleaded her claims, including those for federal-law securities fraud and state-law fraud, breach of fiduciary duty and civil theft, with sufficient clarity and specificity, so all 15 claims survive.
Court: USDC Western District of Wisconsin, Judge: Peterson, Filed On: July 24, 2023, Case #: 3:22cv400, NOS: Securities/Commodities/Exchange - Other Suits, Categories: fraud, securities, fiduciary Duty