Fibro Trust, Inc. v. Brahman Financial, Inc.

ZIMMERMAN, Justice:

¶ 1 Plaintiff Fibro Trust, Inc. (“Fibro”), brought breach of contract and conversion claims against defendants Brahman Financial, Inc. (“Brahman”), American Pacific Securities, Ltd. (“APS”), and Mark Eames. The trial court granted a directed verdict for defendants. Fibro argues on appeal that the trial court erred in concluding that the contract was illegal. We agree and reverse and remand.

¶2 Fibro owns millions of shares in a publicly held company, Leasing Technology, Inc. (“LTI”). Fibro orally agreed to authorize Tranco, a stock transfer company, to register but not…