Texas Fiduciary Litigator: A Rose By Any Other Name Would Not Smell As Sweet: Court Holds That Texas Does Not Have An Aiding And Abetting Breach Of Fiduciary Duty Claim (August 13, 2020)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses Hampton v. Equity Trust Co.

In Hampton v. Equity Trust Co., an individual sold fraudulent investments to the plaintiff. No. 03-19-00401-CV, 2020 Tex. App. LEXIS 5674 (Tex. App.—Austin July 23, 2020, no pet.). The individual ran a Ponzi scheme and had recommended that the plaintiff open a retirement account with Equity Trust Company. Equity Trust Company was the custodian of the plaintiff’s self-directed IRA, from which the plaintiff made the investments. After the scheme came a halt, the plaintiff sued the individual for various claims and Equity Trust Company of aiding and abetting breach of fiduciary duty. After a jury trial, the trial court entered judgment for the plaintiff against Equity Trust Company for aiding and abetting breach of fiduciary duty.

To see the full article, click: A Rose By Any Other Name Would Not Smell As Sweet: Court Holds That Texas Does Not Have An Aiding And Abetting Breach Of Fiduciary Duty Claim | Texas Fiduciary Litigator

To download the full opinion, click: Texas Fiduciary Litigator: A Rose By Any Other Name Would Not Smell As Sweet: Court Holds That Texas Does Not Have An Aiding And Abetting Breach Of Fiduciary Duty Claim (August 13, 2020)

Posted by David Brito, Associate Editor, Wealth Strategies Journal.