Estate of Petersen v. William Bitters et al.
Jan 01, 2020OUTCOME: Jury verdict for over $700,000
Lawsuit against financial advisor who persuaded elderly widow to loan $150,000 to a third party who never paid her back upon advice from same financial advisor who instructed borrower not to pay back b ... ut, instead, to use the funds to pay for insurance purchased from the same advisor. In 2019, a jury in Omaha, Nebraska held the financial advisor liable for breach of fiduciary duty and fraudulent misrepresentations, on behalf of the estate of the deceased widow. The verdict was affirmed, in April 2020, on appeal to the U.S. Court of Appeals for the Eighth Circuit.
