Lucero
Lucero v. IRA Services, Inc.
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA San Francisco Division LUIS HURTADO LUCERO, Case No. 18-cv-05395-LB
Plaintiff,
ORDER FOR PLAINTIFF TO SHOW
v. CAUSE WHY HIS RICO CLAIMS
SHOULD NOT BE DISMISSED
IRA SERVICES, INC., et al., Re: ECF No. 90 Defendants. 16 Plaintiff Luis Hurtado Lucero invested $350,000 in retirement savings into a self-directed individual retirement account (“IRA”) called the “Lazzaro & Associates five-year trading portfolio” (the “Program”).1 The Program allegedly turned out to be an illegal Ponzi scheme.2 His claims include violations of the federal Racketeer Influenced Corrupt Organizations Act (“RICO”).3 Certain defendants (who administered the IRA) moved to dismiss the RICO claims, and the court granted their motion and dismissed the RICO claims with prejudice on the ground that the Private Securities Litigation Reform Act of 1995 (“PSLRA”) barred them.4 The same
25 1 Second Am. Compl. (“SAC”) − ECF No. 90 at 2 (¶…