Business Litigation - Oregon Securities Law

In 2008, after discussions and negotiations, claimants purchased a 50% interest in a LLC, which was 50% owned by a second LLC. Shortly thereafter, claimants sued the individual owners of this second LLC, one of whom became the client of partner Jeff Hansen.  The claims against Jeff’s client were daunting, and included common law fraud, violations of Oregon Securities Law, joint liability for the alleged tort claims of a co-defendant, and financial abuse of a vulnerable person.  Claimants also brought a derivative lawsuit on behalf of the LLC that they had invested, based on alleged actions taken after the suit was filed.  After multiple procedural and discovery motions, the depositions of 21 people in 3 states, and the review and analysis of thousands of documents during discovery, Jeff filed a motion for summary judgment.  Following intense summary judgment briefing and oral argument, the trial court judge granted Jeff’s motion for summary judgment and dismissed all fraud-based claims against Jeff's client, including common-law fraud, joint liability, Oregon Securities Law, and financial abuse. The only remaining claim for derivative action should be subject to resolution in the near future.