Wilck and Han Obtain Dismissal of Complaint Against Officers of Qualified IntermediaryNovember 20, 2017 | David S. Wilck | Lawrence S. Han |
David Wilck and Lawrence Han obtained a complete dismissal of a complaint against their clients, who included a principal and officers of a company providing 1031 exchange services. Plaintiff, who was seeking to benefit from a 1031 exchange, fell victim to a cyber-criminal and had his funds, which were held by the entity acting as a qualified intermediary, stolen. In an attempt to recover his losses, Plaintiff commenced an action against the 1031 exchange entity and also its principal and officers, alleging that their conducts gave rise to a variety of causes of action, including but not limited to breach of contract, negligence, professional malpractice, breach of fiduciary duty, and prima facie tort. With their clients facing personal liability, Wilck and Han successfully argued for the dismissal of all of Plaintiff’s claims against the individuals.