United States Ninth Circuit

In a suit arising out of a failed tax shelter, which defendants allegedly sold to plaintiff, dismissal of claims against defendants is reversed in part as to a denial of leave to amend common-law fraud and conspiracy claims where: 1) the issue of whether plaintiff could demonstrate "reasonable reliance" on defendants' alleged misrepresentations was not properly settled as a matter of law under the allegations in the complaint; and 2) plaintiff should have been granted leave to amend and add alternative securities claims.

Appellate Information

• Argued 10/20/2006
• Decided 02/12/2007
• Published 02/12/2007

Judges

• PER CURIAM., Before DOROTHY W. NELSON and RICHARD A. PAEZ, Circuit Judges, and EDWARD RAFEEDIE, District Judge.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Philip A. Talmadge, Anne E. Melley, Talmadge Law Group, Tukwila, WA, Brian G. Isaacson, The Isaacson Law Firm, Seattle, WA, for the plaintiff-appellant.


• For Appellees:
  
• David H. Smith, Garvey Schubert Barber, Seattle, WA, Lawrence M. Hill, Seth C. Farber, Dianne F. Coffino, Dewey Ballantine LLP, New York, NY, for defendants-appellees Deutsche Bank AG and Deutsche Bank Securities, Inc., Stephen C. Willey, Savitt & Bruce LLP, Seattle, WA, Steven M. Bauer, Karli E. Sager, Latham & Watkins LLP, San Francisco, CA, for defendant-appellee Presidio Advisory Services, Inc.