Powers

In Howard v. America Online Inc., 208 F.3d 741 (9th Cir.2000), we held that a federal Racketeer Influenced and Corrupt Organizations Act (RICO), 18 U.S.C. §§ 1961-63 , claim alleging securities fraud, presented in a class action, was barred by 18 U.S.C. § 1964 (c), which provides that “no person may rely upon any conduct that would have been actionable as fraud in the purchase or sale of securities to establish a violation’ of [RICO].” Howard, 208 F.3d at 749 . Here, we consider whether § 1964(c) bars private securities fraud claims that are presented by individual claims rather than in a class action. We hold that the preclusive effect of § 1964(c) applies to claims asserted individually as well as to claims presented in a class action.

Plaintiffs-Appellants Alfred Powers et al. (Powers) filed suit against Defendants-Appellees Wells Fargo Bank, N.A. et al. (Defendants), alleging causes of action under RICO and state law. Powers alleges that Defendants defrauded Plaintiffs of millions of dollars through a Ponzi scheme, the details of which we described in a prior opinion. See SEC v. J. T. Wallenbrock & Assocs., 313 F.3d 532, 535-36 (9th Cir.2002). The district court held, based…