Corsair Capital Partners, L.P. v. Wedbush Morgan Securities, Inc.

MEMORANDUM

Wedbush Morgan Securities, Inc. (‘Wedbush Morgan”) and its president, Edward Wedbush (Wedbush”) appeal from the district court’s denial of their motion for a judgment as a matter of law and motion for a new trial, after a jury returned a verdict against Wedbush Morgan and Wedbush in the amount of $234,684. Wedbush and Wedbush Morgan also appeal the district court’s order finding that Wedbush and Wedbush Morgan had violated California’s unfair competition statute, California Business and Professions Code §§ 17200-17210, but declining to award recovery.

We review a jury verdict under the substantial evidence standard. Landes Constr. Co. v. Royal Bank of Canada, 833 F.2d 1365, 1370-71 (9th Cir.1987). Similarly, we review the court’s denial of a post-trial motion for a judgment as a matter of law for substantial evidence. Id. The district court had jurisdiction under 15 U.S.C. § 78aa and 28 U.S.C. § 1367 . We have jurisdiction under 28 U.S.C. § 1291 .

Corsair Capital Partners, L.P. (“Corsair”) and Alternative Investments, L.P. (“Alternative”) brought suit against Wed-bush Morgan, Wedbush, and various Wedbush employees, alleging violations of sections 10(b) and 20(a) of…