Crysel

FACTS

I.

THE PARTIES AND THE UNDERLYING EVENTS2

In November 2015, Suzanne attended a free “Social Security Maximization” dinner seminar, which was held at a restaurant and hosted by Thomas. She was invited by a friend, who was a client of Thomas. At the

2 The facts are drawn from the evidence at trial and the record on

appeal.

3 seminar, Thomas held himself out as a fiduciary. Typically, the seminars included discussion of investment products, like annuities, life insurance, and managed money, but none are sold there. The attendees were not allowed to ask questions at the seminar. If they wanted more information, they were directed to fill out a form for an in-office appointment. Suzanne submitted a form for an appointment. At the time, she was in her early 60’s and had been a “homemaker” for 20 years. Her husband, Robert, was in his early 50’s and was working for the auto manufacturer Tesla building show cars. They had been married for over 20 years. Robert owned roughly $1 million in Tesla stock options, and Suzanne was due to receive an inheritance valued at about $1.2 million (half the value of her late mother’s house). They wanted to meet with Thomas to start planning…