Bronstein v. Crowell, Weedon & Co.
Rabbi Sam Bronstein, individually and as trustee for the Sam and Molly Bronstein Family Trust (the Trust), and Ida Finkelstein, his wife, sued respondents Crowell, Weedon & Co. (Crowell) and Trennon J. Waters for damages arising from investment losses of approximately $4 million. Appellants alleged that the losses were from a scheme spearheaded by Keith Gilabert (Gilabert) and carried out through his companies, The GLT Venture Fund, LP (GLT) and CMG-Capital Management Group Holding Company, LLC (CMG). It was further alleged that respondents, as well as UBS Financial Services, Inc. (UBS), UBS Securities LLC and Justin Paperny (collectively the UBS defendants) and various Does participated in the wrongdoing. Court find that appellants waived opposition to respondents evidentiary objections by failing to assert them below. Furthermore, Court are satisfied that even if the challenged statements had been admitted, they would not have raised a triable issue of material fact to support denial of summary judgment. Court further find that appellants failed to raise a triable issue of material fact as to any legal basis for holding Crowell or Waters liable for the damages alleged in their first amended complaint (FAC). But, Court conclude the court acted in excess of jurisdiction in issuing the ex parte order for discovery sanctions and reverse the sanction order. In light of our affirmance of summary judgment, any appeal from the order for production is moot.
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