Case Verdict in Favor of KKBS and Clients
December 7, 2011: Congratulations to KKBS partner Vincent D. Slavens and associate attorney Mary K. Wyman for their successful defense of a registered investment adviser and its CEO. The Plaintiffs, two family trusts, alleged fraud, negligent misrepresentation, breach of fiduciary duty, negligence and fraudulent transfer against their clients, and four other Defendants. The case arose out of the Plaintiffs’ investment of several million dollars in a hedge fund that ultimately failed in the wake of the recent global financial crisis. KKBS’s clients denied any wrongdoing or any involvement in recommending or managing the hedge fund. Following a month-long jury trial in Orange County Superior Court, although it found all other defendants liable for a $4.6 million verdict, the jury returned a unanimous verdict in favor of KKBS’s clients.