Leon v. Rabalais CA2/4
Appellant Christopher Paul Rabalais was the president and chief executive officer of defendant AllSportsMarket, Inc., (ASM) which purported to be an investment platform on which investors could trade “fantasy shares” of college and professional sports teams. Defendant Soluciones Globales Optimas, S.A., (SGO) was the owner of ASM. Respondent Seth Leon, who invested $31,000 with ASM and alleged that he substantially increased the value of his ASM account, claimed that both Rabalais and ASM promised that investors could withdraw the money from their account at any time. But when Leon attempted to withdraw a significant portion of the money from his account, he received only a fraction of the funds he requested. Leon subsequently filed suit. Both Rabalais and ASM demurred to the initial complaint, but then failed to respond to the subsequent amended complaints. After their default was entered, they unsuccessfully moved to set aside the default.
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