Financial Management Advisors, LLC v. American International Specialty Lines Insurance

How courts have described this case

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

• concluding that claims brought by “unrelated investors, with unique investment objectives [who] were advised at separate meetings on separate dates, according to their unique financial positions” were not sufficiently related as to constitute a single claim
• noting with approval the logical 26 27 13 In its motion, Foster argues that “[a]t a minimum, the Specific Matter Exclusion is ambiguous 1 and causal connection explained in Bay Cities
• rejecting insurer’s argument that claims by different investors against a single investment advisor necessarily arose out of related wrongful acts merely because the claimants were persuaded to invest in same investment fund by the same investment advisor
• one claimant’s allegations relied on oral misrepresentations and omissions regarding a variety of investment vehicles, while the other’s allegations relied on the breach of a written agreement to prioritize claimant’s investment in a lower-risk “tranche” of a particular fund

Source: CourtListener parenthetical corpus (CC0).