Litigation
Jan. 13, 2011
Appellate Ruling Protects Investment Advisers
A state appellate court ruling Tuesday protects investment advisers from being sued for rescission when a venture doesn't pan out.
Daily Journal Staff Writer
A state appellate court ruling Tuesday protects investment advisers from being sued for rescission when a venture doesn't pan out.
Only those who actually sold the securities can be forced to return investors' money under state Corporations Code section 25504, the 4th District Court of Appeal ruled. Viturbi v. Wasserman, 2011 DJDAR 539.
Thursday's decision was the first in ...
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