Brinton
Brinton v. Bankers Pension Services, Inc.
Opinion
Lead Opinion
Rylaarsdam, J.
Plaintiff James A. Brinton sued defendant Bankers Pension Services, Inc., seeking damages for fraud, negligent misrepresentation and breach of fiduciary duty arising from his unsuccessful investments in five limited partnerships. The trial court granted defendant’s motion for summary judgment, finding plaintiff’s claims as to four of the partnerships barred by the doctrine of res judicata, and his claim as to the *554 fifth partnership barred by his execution of a settlement agreement containing a release of claims clause in another lawsuit. We conclude the record supports the trial court’s rulings and affirm the judgment.
Facts
Plaintiff established a self-directed individual retirement account with defendant. At the time, Ronald P. Thon was one of defendant’s officers and also worked as a broker for Titan/Value Equities Group, Inc., a securities dealership. Between October 1988 and June 1991, plaintiff invested in five limited partnerships. The partnerships subsequently failed, rendering plaintiff’s investments worthless.
In 1993, plaintiff filed a statement of claim with the National Association of Securities Dealers, Inc. (NASD) seeking binding arbitration on…