Royal Resources, Inc. v. Gibralter Financial Corp.

HALL, Justice:

Defendant, Lynn Dixon, appeals from a personal judgment against him for monies had and received.

The facts giving rise to this lawsuit are not generally in dispute. The corporate defendants (hereinafter collectively referred to as “Gibralter”), were engaged in the securities trading business and defendant, Lynn Dixon, (hereinafter “Dixon”) was the president of Gibralter and acted as its broker, selling stocks using both his own account and customer accounts. Plaintiff had an ongoing business relationship with Gibralter which centered upon a practice known in the securities…