Legal Opinion
The Commercial Bank v. Smith Shellnut Wilson LLC
Court of Appeals of Mississippi
Decided August 7, 2018No. 2017-CA-00670-COAPublishedCited by 2 opinions
1Opinion of the Court
CARLTON, J., FOR THE COURT:
¶ 1. This case arises from $1,850,000 of securities that the Commercial Bank of DeKalb, Mississippi (the Bank) purchased in 2005 and 2007 from third-party securities dealers. The Bank's purchases were made based on recommendations by the Bank's investment advisor, Smith Shellnut Wilson LLC (SSW). The Bank claims that SSW negligently or intentionally misrepresented or omitted material facts when SSW advised the Bank to buy the securities and, in doing so, breached its fiduciary duty to the Bank. The Bank also claims SSW violated the Mississippi Securities Act in…
2Cases cited38 opinions
- Securities & Exchange Commission v. Capital Gains Research Bureau, Inc.Supreme Court of the United States · 1963
- Palmer v. Biloxi Regional Medical Center, Inc.Mississippi Supreme Court · 1990
- Barry Belmont v. MB Investment Partners, Inc.Court of Appeals for the Third Circuit · 2013
- Donald v. Amoco Production Co.Mississippi Supreme Court · 1999
- Smith v. SandersMississippi Supreme Court · 1986
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3Cited by2 opinions
- Cascade Capital Group, LLC v. Livingston Holdings, LLCDistrict Court, S.D. Mississippi · 2020
- Gloria Baker, Connie Cornwall, Carolyn Greer, Daniel Morris, and Judy Travis v. Raymond James & Associates Inc., Logan B. Phillips Jr., and Steven Kane SavellCourt of Appeals of Mississippi · 2020