Yates v. Casto

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Yates v. Casto

Case Number
A-17-1053
Court Number
Douglas
Call Date
January 16, 2019
Case Time
9:00 AM
Case Summary

A-17-1053, John Yates and Denise Yates (Appellants) v. Steven Casto

District Court for Douglas County, District Judge Horacio Wheelock

Attorney for Appellants:  Gail E. Boliver (Boliver Law Firm)

Attorneys for Appellee:  Michael S. Degan & Victoria Helen Buter (Kutak Rock LLP)

Civil Action:  Negligence and breach of fiduciary duty

Action taken by the Trial Court:  Following a bench trial, the court entered judgment in favor of Casto.

Assignments of Error on Appeal:  Did the trial court err in finding no breach of fiduciary duty when advisor sold investment products and created an inappropriate financial portfolio in order to enrich himself in violation of Nebraska law? Did the trial court err in finding no breach of fiduciary duty when advisor failed to disclose the commissions he received in violation of Nebraska law? Did the trial court err in determining investment advisor was not negligent despite creating a portfolio of financial products contrary to investors’ investment objectives and risk tolerance?

Case Location
Lincoln
Court Type
District Court
Schedule Code
A1
Panel Text
Moore, Chief Judge, Pirtle, and Arterburn, Judges