Investors awarded compensatory damages and punitive damages pursuant to California Code, Civil Code - CIV §3294.
A group of senior investors alleged causes of action, including elder abuse and unsuitability, with respect to purchases of non-traded real estate investment trusts, Moody’s National REIT II and mutual funds, including the Apollo Institutional Income Fund, in their brokerage accounts. The investors were awarded compensatory damages and punitive damages pursuant to California Code, Civil Code - CIV §3294, which provides punitive damages if there is clear and convincing evidence that the defendant is guilty of oppression, fraud or malice.
Case Law Alerts, 1st Quarter, January 2023 is prepared by Marshall Dennehey to provide information on recent developments of interest to our readers. This publication is not intended to provide legal advice for a specific situation or to create an attorney-client relationship. Copyright © 2032 Marshall Dennehey, all rights reserved. This article may not be reprinted without the express written permission of our firm.