Indemnified Capital Investments, Sa. v. R.J. O'Brien & Associates, Incorporated, John W. O'brien, Robert J. O'brien, Jr.

How courts have described this case

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

• concluding that an investment advisor did not have standing where beneficial owners did not assign their rights to sue to the investment advisor
• dismissing punitive damages claims “because it fails to state an independent cause of action”
• finding plaintiff did not have standing to sue based on “customer accounts,” as opposed to plaintiffs “house accounts,” because customers alone suffered the loss; further noting that plaintiff did not allege that it was injured by losses sustained in customer accounts
• defendant’s alleged misrepresentation that he was a “highly successful” trader not actionable
• “Based on the record before us, [defendant] only had authorization to trade in the customer accounts and thus any losses are only attributable to ICI’s customers. Accordingly, ICI has failed to satisfy the injury in fact element of standing.”
• “Based on the record before us, [defendant] only had authorization to trade in the customer accounts and thus any losses are only attributable to ICI’s customers. Accordingly, ICI has failed to satisfy the injury in fact element of standing.”

Source: CourtListener parenthetical corpus (CC0).