Legal Opinion
Schaaf v. Residential Funding Corp.
Court of Appeals for the Eighth Circuit
Decided February 22, 2008No. 06-3694PublishedCited by 342 opinions
1Opinion of the Court
COLLOTON, Circuit Judge.
Investors Vernon Schaaf, Julian Boik, and Alfred Streufert appeal the district court’s 1 dismissal of their claims against Residential Funding Corporation (RFC) and Heller Financial, Inc. The district court concluded that the investors failed to plead a sufficient causal nexus between their financial losses and the allegedly fraudulent actions of RFC and Heller. Alternatively, the district court rejected the investors’ common law fraud claims because they failed to allege reliance, and dismissed their claims under the Minnesota Consumer Fraud Act (MCFA) because those…
2Cases cited18 opinions
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- Dura Pharmaceuticals, Inc. v. BroudoSupreme Court of the United States · 2005
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
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3Cited by342 opinions
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