RAY v. CITIGROUP GLOBAL MARKETS, INC.

No. 05-4362.

482 F.3d 991 (2007)

Sherwin I. RAY, et al., Plaintiffs-Appellants, v. CITIGROUP GLOBAL MARKETS, INC., et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided April 12, 2007.


Attorney(s) appearing for the Case

Steven S. Biss (argued), Johnson & Bell, Catherine M. Chapman, Baum, Sigman, Auerbach, Neuman & Katsaros, Chicago, IL, for Plaintiffs-Appellants.

Ellen S. Robbins, Andrew W. Stern (argued), Sidley Austin, New York, NY, for Defendants-Appellees.

Before RIPPLE, KANNE, and WOOD, Circuit Judges.


WOOD, Circuit Judge.

This is a case brought by a group of disappointed investors who lost millions of dollars after the shares they had purchased of SmartServ Online, Inc. (SSOL) collapsed in value. They blame their losses on John Spatz, an investment advisor, his employer, Citigroup Global Markets, Inc., and the employer's parent company, Citigroup, Inc. (collectively, Citigroup). The district court, however, granted summary judgment in the defendants' favor, finding...

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