17 Berry v. Foothill Securities
The Berrys’ operative complaint alleges three causes of action against Foothill: (1) breach of fiduciary duty, (2) negligence, and (3) fraud committed by intentional misrepresentation.
As to the first cause of action, the Berrys allege they entrusted Foothill with management of and counsel regarding their financial investments, that Foothill failed to advise the Berrys to seek independent counsel regarding the transactions set forth in the complaint, and that the transactions which are the subject of their complaint were unsafe and unsuitable causing the Berrys to lose a substantial portion of their savings, thus violating the fiduciary duties Foothill owed to the Berrys.
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