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Supreme Court of Mississippi Opinions | Baker v. Raymond James & Associates Inc. | Citation: 2019-CT-00073-SCT Opinion Date: March 4, 2021 Judge: Beam Areas of Law: Civil Procedure, Consumer Law, Securities Law | In 2017, Plaintiffs filed suit against the Defendants. Between 2002 and 2005, Plaintiffs (all retirees from BellSouth) rolled most of their retirement assets over to Steven Savell, their financial advisor at Morgan Keegan. Savell assured Plaintiffs “he would invest [their] money in a way that would provide [them] with income for the remainder of [their] life and that [their] principal would grow over time.” Savell remained in control of these accounts until 2013. During the years Savell handled these accounts, the Plaintiffs continually sustained sizeable losses. Plaintiffs claimed that Savell improperly recommended that they invest in two unsuitable penny stocks and then marked the purchases “unsolicited” so as to prevent detection by the brokerage firm’s policy against soliciting such stock. Plaintiffs also alleged that Savell purchased for them certain annuities designed to be held for the long term, which Savell had them cash out early in order to purchase new annuities that would pay him and Morgan Keegan and/or Raymond James large commissions. The trial court granted summary judgment in favor of Defendants, finding that all of the Plaintiffs’ claims were time-barred. The Court of Appeals reversed with respect to the Plaintiffs’ common-law claims, finding that a genuine issue of material fact existed as to when Plaintiffs learned or through reasonable diligence should have learned of Defendants’ alleged malfeasance. The Mississippi Supreme Court granted certiorari on Defendants’ claim that the Court of Appeals misapplied the latent-injury discovery-rule exception to the catch-all three-year limitations period provided by Mississippi Code Section 15-1-49 (Rev. 2019). Because the Supreme Court found no genuine issue of material fact existed as to whether Plaintiffs’ common-law claims were time barred, it reversed the Court of Appeals’ decision and reinstated the trial court’s judgment. | | Coulter v. Dunn | Citation: 2019-CA-01805-SCT Opinion Date: March 4, 2021 Judge: Michael K. Randolph Areas of Law: Family Law | D.G.E.C. was born on June 1, 2016. Her biological parents were Rachel Coulter and Cody Jones. Coulter and Jones never married. On the evening of August 6, 2016, Jones took the nine-week-old baby to a room in their two-bedroom trailer to change her diaper. He noticed that her leg appeared limp. He told Coulter “her leg flopped over like it had no life in it” and expressed concern that it was broken. Eventually, Coulter and Jones took the baby to an emergency room. Coulter suggested that the baby might be suffering due to a reaction to her first round of vaccinations received three days earlier. X-rays of the leg revealed that it was fractured. The baby was transferred to University of Mississippi Medical Center (UMMC) for further evaluation and treatment. Upon admission to UMMC, medical professionals identified bruising to the baby’s forehead and cheek, acute posterior rib fractures on both sides of her chest, lateral rib fractures, an intertrochanteric femur fracture or hip fracture, corner fractures above and below both knees, and left ankle fractures. Given the baby’s medical condition upon admission, a UMMC social worker contacted the Jefferson Davis County Department of Human Services (DHS) to report the injuries. Coulter appealed a chancery court judgment terminating her parental rights. She challenged the chancellor’s finding of fact that she was the custodial parent of her daughter when her daughter was abused, and its conclusion of law that responsibility for abuse can be imputed to custodial parents. After review, the Mississippi Supreme Court affirmed the chancellor’s findings of fact, finding the judgment was supported by "ample evidence as is legally sound." | |
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