Tumelson Family Ltd. Partnership v. World Financial News Network

MEMORANDUM *

Plaintiffs collectively invested $275,000 in World Financial News Network Corp. (“WFNN”), an Internet start-up company incorporated in Nevada, over the course of seven months in 1999 and 2000. Plaintiffs sued WFNN and individuals associated with the company, including Defendants Slaughter and Chin. 1 A jury found Defendant Slaughter liable for $275,000 under the Washington State Securities Act (“WSSA”) and for breach of fiduciary duty; the jury found Defendant Chin liable for $255,000 under the WSSA and federal securities law, and for breach of fiduciary duty, fraud, and negligent misrepresentation. The district court denied Defendants’ motions for judgment as a matter of law and for a new trial and entered judgment on the jury’s verdict. The district *387 court also awarded Plaintiffs $409,972.74 in attorney fees and costs and held all remaining defendants jointly and severally liable for the entire amount of fees. Defendants Slaughter and Chin appeal the judgment on the jury’s verdict, and Defendant Slaughter appeals the award of attorney fees and costs.

We review de novo a district court’s denial of a motion for judgment as a matter of law. Bell v. Clackamas…