Thiel

I.

INTRODUCTION

In 2007, Norman Thiel followed a recommendation from his financial advisor Jeffrey Guidi to invest a substantial part of his retirement savings in a private placement securities offering by MKA Real Estate Qualified Fund I, LLC (Qualified Fund). In 2010, Norman filed this action seeking redress for the loss of his investment, alleging causes of action for fraud, breach of fiduciary duty, negligence and financial elder abuse against Guidi, Qualified Fund and others. After Norman passed away in 2013, his wife Gae was substituted as the plaintiff in this case in her capacity as Norman’s successor in interest.

1 We distinguish between members of the Thiel family by using their first names. No disrespect is intended.

1 At a 2014 bench trial, the only remaining defendants were Qualified Fund and its manager MKA Capital Group Advisors, LLC (Advisors). The trial court found in favor of Gae on all of Norman’s causes of action, concluding that Qualified Fund and Advisors (collectively, “MKA”)2 were jointly and severally liable for Norman’s damages, either directly or because Guidi was their agent. The court awarded damages totaling $500,000, and statutory attorney fees…