Software Design & Application, Ltd. v. Hoefer & Arnett, Inc.

Opinion

ANDERSON, P. J.

This is an appeal from judgments of dismissal after the court sustained demurrers and appellants 1 declined to amend. Although they were strangers to, not customers of, the respondent banks and brokerage firms, 2 appellants attempted to recover from them on several theories, including negligence and conversion. The real culprit, appellants’ faithless financial consultant entrusted with a valuable portfolio, liquidated the assets with the help of his sister through an ingenious scheme involving a series of fictitious accounts. The trial court correctly concluded there was…