The Investors’ Control of Their Investment Advisers. Who Has the Final Word?

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel discusses an emerging issue affecting financial advisers—when a client may exercise control over the actions of the adviser. Frankel relates the story of an investment adviser that did not follow the client’s orders to cease certain investments, at a cost of almost $5 million to the client. As Frankel explains, the Securities and Exchange Commission (SEC) got involved, resulting in the investment adviser’s settlement for a significant payment to the client and other conditions.

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Tahboub v. Thiagarajah

Court: Supreme Court of Virginia

Docket: 190019

Opinion Date: February 13, 2020

Judge: William C. Mims

Areas of Law: Medical Malpractice, Personal Injury

In this medical malpractice appeal, the Supreme Court reversed the judgment of the circuit court granting Defendants' motion to strike the evidence on the ground that it was insufficient to prove causation, holding that Plaintiff's evidence was sufficient to establish a prima facie case and survive a motion to strike at the conclusion of Plaintiff's case-in-chief. Plaintiff, as the personal representative and the administrator of his deceased wife's estate, filed a complaint alleging that Defendants had been professionally negligent, which had caused his wife's wrongful death. At the conclusion of Plaintiff's case-in-chief, Defendants moved to strike the evidence. The circuit court granted the motion and entered a final order awarding judgment to Defendants. The Supreme Court reversed, holding that Plaintiff's evidence was sufficient to defeat Defendants' motion to strike and that the circuit court erred by failing to view all of Plaintiff's evidence in the light most favorable to him.