On July 12, 2007, the Massachusetts Court of Appeals upheld an order of the Massachusetts Superior Court granting summary judgment on behalf of a Robinson Donovan, P.C. client in a case alleging a failed investment strategy.
This complex financial litigation included allegations of breach of fiduciary duty, violation of the Federal Investment Advisors Act, violation of the Massachusetts Uniform Securities Act, and violation of the Massachusetts Consumer Protection Act, M.G.L. c. 93A.
Robinson Donovan, P.C., Business Department Chair, Attorney James F. Martin, first successfully defended the case in the United States District Court for the District of Massachusetts, where the Court granted summary judgment to his client on the Federal Investment Advisor’s Act claim. The case was then transferred to the Massachusetts Superior Court where Attorney Martin prevailed on the remaining claims.
On appeal, Attorney Martin was assisted by Associate Attorney David S. Lawless.
Their brief argued that plaintiffs could not rely on their apparently willful ignorance to defeat the running of the statue of limitations.
Plaintiffs argued that they did not know that their investment strategy had failed because of their investment advisor’s alleged assurances that the strategy was working, despite the monthly statements, prospectuses, and other information they received to the contrary.
Attorneys Martin and Lawless countered, and the Appeals Court agreed, that because of the copious information that plaintiffs received but either never read or discounted, they had “actual knowledge” of having been harmed well before the statute of limitations barred their claims.
Attorney Martin’s practice focuses on complex litigation and transactional matters.
Attorney Lawless’ practice focuses on business litigation. civil rights litigation, and employment litigation.
Contact Info:
James F. Martin, Esq. (413) 732-2301
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David S. Lawless, Esq. (413) 732-2301
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