Verdicts & Settlements

Investment Fraud

Investors Recover $81,500 On Claims
Securities - Sale Of Unregistered Securities - Limitations, “Seller” Issues - Jury Verdict - $81,500 Post-Judgment Settlement

Type of Action: Sale of unregistered securities

Injuries Alleged: Investment losses

Name of Case: Campbell and Riley v. Russell

Court/County: Yadkin

Case No.: 2002 CvS 599

Tried Before: Jury (case settled post-judgment)

Name of Judge: Charles Lamm Jr.

Special Damages: N/A

Verdict/Settlement: Settlement

Amount: $81,500

Verdict Date: Feb. 19, 2004

Demand: $90,000

Offer: $0

Experts: None

Insurer: None

Plaintiff's attorneys: George Francisco, Winston Salem

Person Submitting: George Francisco

Description: The defendant claimed he was not a "seller" under the N.C. Securities Act, but only received referral fees for prospects. The issues included (1) statute of limitations — when plaintiffs should have known the investments were securities; (2) whether defendant was a "seller" of securities; (3) whether defendant should have known the investments were securities; and (4) the amount of damages. The judgment exceeded $100,000, including attorney's fees and interest. The case settled post judgment.

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