Tatum v. Smith

OPINION

SENTER, Chief Judge.

In this case, plaintiffs allege that defendants violated the Commodity Exchange Act, the Securities Exchange Act, RICO, and Mississippi state law in connection with the embezzlement activities of one of the defendants. This cause is presently before the court on the motions of the defendant brokerage firms for summary judgment.

FACTS

In 1986, the defendant Bernie L. Smith, III, opened a financial advisor and planning business — which was eventually known as Bernie L. Smith & Associates — in Oxford, Mississippi. Smith’s clients included the instant plaintiffs — Pat…