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BROWN v. CALIFORNIA PENSION ADMRS. & CONSULTANTS

Docket No. B081707.

45 Cal.App.4th 333 (1996)

SHARON BROWN et al., Plaintiffs and Appellants, v. CALIFORNIA PENSION ADMINISTRATORS AND CONSULTANTS, INC., et al., Defendants and Respondents.

Court of Appeals of California, Second District, Division Four.

May 8, 1996.

Attorney(s) appearing for the Case

COUNSEL

Baltaxe & Baltaxe and Michael F. Baltaxe for Plaintiffs and Appellants.

Reish & Luftman, Mark E. Terman, Mitchell, Silberberg & Knupp, Hayward J. Kaiser and Ann S. Lee for Defendants and Respondents.

OPINION

EPSTEIN, J.

Appellants are investors or spouses of investors in self-directed individual retirement accounts1 (IRA's) who sought to recover funds based on the failure of respondents, the trustee and administrator of their IRA's, to notify them that the borrower of their funds had defaulted in payments to other investors. We conclude that express provisions in the documents governing the business...

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