Barry Belmont v. MB Investment Partners, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• recognizing that investment advisors registered with the SEC owe an affirmative duty of “utmost good faith, and full and fair disclosure of all material facts, as well as an affirmative obligation to avoid misleading [its] clients”
• holding that “the issue of imputation is determined by state law”
• stating that in addition to the statutory elements, the plaintiff must show that defendant was a “culpable participant” in acts constituting a violation
• stating that in addition to the statutory elements, the plaintiff must show that defendant was a “culpable participant” in acts constituting a violation
• explaining that one element of negligent supervision is that the “employer knows or has reason to know of the necessity and ability to control the employee”
• explaining that a claim for negligent supervision typically involves wrongful acts by employees that are “outside the scope of employment or not in furtherance of the principal’s business”

Source: CourtListener parenthetical corpus (CC0).