Madsen v. Borthick

ZIMMERMAN, Justice:

Plaintiffs Richard D. and Nancy Madsen, Boyd A. and Beatrice Swensen, Blaine and Sheree Anderson, Hope A., Cynthia, and Ralph M. Hilton, Gene Helland, and the Middle East Foundation, all investors in the now-defunct Grove Finance Company (“the investors”), brought suit against defendants Mirvin D. Borthick and W. Smoot Brimhall, former commissioners of the Utah Department of Financial Institutions (“the Commissioners”). The investors seek to recover the amount of their lost investments from the Commissioners personally. The trial court granted a summary judgment in favor of…