Welborne v. Ryman-Carroll Foundation

The Court of Appeal reversed the trial court's grant of summary judgment in an action seeking to recover funds that plaintiff claimed had been taken by her then-investment advisor. Plaintiff alleged that the funds came from her investment account at her investment advisory firm which the advisor then used to repay a loan which an entity he controlled had obtained several years earlier from the Ryman-Carroll Foundation. The court held that plaintiff made a sufficient prima facie showing to support her claim for recovery. In this case, plaintiff has sufficiently placed material facts—the extent of Ryman's knowledge and of its good faith—in issue. Therefore, the matter required trial rather than summary disposition. View "Welborne v. Ryman-Carroll Foundation" on Justia Law