SUCCESS STORY

Securing Victory Under Securities Laws

Claims Alleged: Securities Law Violations

Injuries Alleged: Common Law Fraud, Violations of OR Securities Law, Tort Claims, and Financial Abuse of a Vulnerable Person

The Overview

Smith Freed Eberhard prevailed on a significant motion for summary judgement in a case involving multiple alleged Oregon securities law violations.

The Background

Claimants in this matter had purchased a 50% interest in a LLC, which was 50% owned by a second LLC. Shortly thereafter, claimants sued the individual owners of the second LLC, one of whom became a client of Smith Freed Eberhard. The claims against our client were daunting. They 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.

The Strategy

The Smith Freed Eberhard team deployed a myriad procedural and discovery motions. It took the depositions of 21 people in three different states. Additionally, it undertook the review and analysis of thousands of documents during discovery. That dedicated work culminated in a motion for summary judgement.

The Outcome

Following an intense summary judgment oral argument, the trial court granted the defendant’s motion and dismissed all fraud-based claims against the client, including common-law fraud, joint liability, Oregon Securities Law violations, and financial abuse. The only remaining claim for derivative action would be subject to resolution in the near future.

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