MARION v. TDI INC.

Nos. 06-5173, 06-5196, 07-1010, 07-3398, 07-3416.

591 F.3d 137 (2010)

David H. MARION, as receiver for Bentley Financial Services, Inc. v. TDI INC, (f/k/a Traders and Dealers, Incorporated, f/k/a TDI, Incorporated, f/k/a The Trading Desk, Inc. and f/k/a U.S. Central Securities, Inc.); Southeastern Securities Inc.; SFG Financial Services, Inc.; Peninsula Bank; Theodore Benghiat; Casto Edwin Rivera; Jerry Manning; John Strine; Jeffrey Wilson; Joseph Marzouca v. Sanford Goldfine; S.D. Goldfine & Co.; (Third-Party Defendants) (D.C. No. 02-cv-07032) David H. Marion, as receiver for Bentley Financial Services, Inc. v. S.D. Goldfine & Company; Sanford Goldfine; Jeffrey Wilson; Jerry Manning; Joseph Marzouca; Theodore Benghiat; Peninsula Bank; Casto Edwin Rivera; SFG Financial Services, Inc.; Southeastern Securities, Inc.; John Strine; The Trading Desk, Inc. d/b/a TDI, Inc.; (D.C. No. 02-cv-07076) Peninsula Bank; Joseph Marzouca, Appellants (No. 06-5173) David H. Marion, as receiver for Bentley Financial Services, Inc. v. TDI Inc., (f/k/a Traders and Dealers, Incorporated, f/k/a TDI, Incorporated, f/k/a The Trading Desk, Inc. and f/k/a U.S. Central Securities, Inc.); Southeastern Securities Inc.; SFG Financial Services, Inc.; Peninsula Bank; Theodore Benghiat; Casto Edwin Rivera; Jerry Manning; John Strine; Jeffrey Wilson; Joseph Marzouca v. Sanford Goldfine; S.D. Goldfine & Co.; (Third-Party Defendants) (D.C. No. 02-cv-07032) David H. Marion, as receiver for Bentley Financial Services, Inc. v. S.D. Goldfine & Company; Sanford Goldfine; Jeffrey Wilson; Jerry Manning; Joseph Marzouca; Theodore Benghiat; Jerry Manning; Joseph Marzouca; Peninsula Bank; Casto Edwin Rivera; SFG Financial Services, Inc.; Southeastern Securities, Inc.; John Strine; The Trading Desk, Inc. d/b/a TDI, Inc.; (D.C. No. 02-cv-07076) Southeastern Securities, Inc.; SFG Financial Services, Inc.; Theodore Benghiat, Appellants (No. 06-5196) David H. Marion, as receiver for Bentley Financial Services, Inc., Appellant (No. 07-1010) v. TDI Inc., (f/k/a Traders and Dealers, Incorporated, f/k/a TDI, Incorporated, f/k/a The Trading Desk, Inc. and f/k/a U.S. Central Securities, Inc.); Southeastern Securities Inc.; SFG Financial Services, Inc.; Peninsula Bank; Theodore Benghiat; Casto Edwin Rivera; Jerry Manning; John Strine; Jeffrey Wilson; Joseph Marzouca v. Sanford Goldfine; S.D. Goldfine & Co.; (Third-Party Defendants) (D.C. No. 02-cv-07032) David H. Marion, as receiver for Bentley Financial Services, Inc. v. S.D. Goldfine & Company; Sanford Goldfine; Jeffrey Wilson; Jerry Manning; Joseph Marzouca; Theodore Benghiat; Jerry Manning; Joseph Marzouca; Peninsula Bank; Casto Edwin Rivera; SFG Financial Services, Inc.; Southeastern Securities, Inc.; John Strine; The Trading Desk, Inc. d/b/a TDI, Inc.; (D.C. No. 02-cv-07076) David H. Marion, as receiver for Bentley Financial Services, Inc. v. TDI Inc., (f/k/a Traders and Dealers, Incorporated, f/k/a TDI, Incorporated, f/k/a The Trading Desk, Inc. and f/k/a U.S. Central Securities, Inc.); Southeastern Securities Inc.; SFG Financial Services, Inc.; Peninsula Bank; Theodore Benghiat; Casto Edwin Rivera; Jerry Manning; John Strine; Jeffrey Wilson; Joseph Marzouca v. Sanford Goldfine; S.D. Goldfine & Co.; (Third-Party Defendants) (D.C. No. 02-cv-07032) David H. Marion, as receiver for Bentley Financial Services, Inc. v. S.D. Goldfine & Company; Sanford Goldfine; Jeffrey Wilson; Jerry Manning; Joseph Marzouca; Theodore Benghiat; Peninsula Bank; Casto Edwin Rivera; SFG Financial Services, Inc.; Southeastern Securities, Inc.; John Strine; The Trading Desk, Inc. d/b/a TDI, Inc.; (D.C. No. 02-cv-07076) Peninsula Bank; Joseph Marzouca, Appellants (No. 07-3398) David H. Marion, as receiver for Bentley Financial Services, Inc. v. TDI Inc., (f/k/a Traders and Dealers, Incorporated, f/k/a TDI, Incorporated, f/k/a The Trading Desk, Inc. and f/k/a U.S. Central Securities, Inc.); Southeastern Securities Inc.; SFG Financial Services, Inc.; Peninsula Bank; Theodore Benghiat; Casto Edwin Rivera; Jerry Manning; John Strine; Jeffrey Wilson; Joseph Marzouca v. Sanford Goldfine; S.D. Goldfine & Co.; (Third-Party Defendants) (D.C. No. 02-cv-07032) David H. Marion, as receiver for Bentley Financial Services, Inc. v. S.D. Goldfine & Company; Sanford Goldfine; Jeffrey Wilson; Jerry Manning; Joseph Marzouca; Theodore Benghiat; Peninsula Bank; Casto Edwin Rivera; SFG Financial Services, Inc.; Southeastern Securities, Inc.; John Strine; The Trading Desk, Inc. d/b/a TDI, Inc.; (D.C. No. 02-cv-07076) Southeastern Securities, Inc.; SFG Financial Services, Inc.; Theodore Benghiat, Appellants (No. 07-3416).

United States Court of Appeals, Third Circuit.

Opinion filed January 4, 2010.


Attorney(s) appearing for the Case

Eugene E. Stearns, Esquire (Argued), Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, Miami, FL, Alan K. Cotler, Esquire, Reed Smith, Philadelphia, PA, for Appellants/Cross-Appellees, Peninsula Bank, Joseph Marzouca.

Laurence A. Mester, Esquire (Argued), Grossman Law Firm, Philadelphia, PA, for Appellant/Cross-Appellees, Southeastern Securities Inc., SFG Financial Services, Inc. Theordore Benghiat.

David D. Langfitt, Esquire, John H. Lewis, Jr., Esquire (Argued), Montgomery, McCracken, Walker & Rhoads, Philadelphia, PA, for Appellees/Cross Appellants, David H. Marion, Esquire.

Before: AMBRO, WEIS, and VAN ANTWERPEN, Circuit Judges.


OPINION OF THE COURT

AMBRO, Circuit Judge.

A receiver for a corporation through which a Ponzi scheme was run brought suit against various third-parties alleged to have assisted the scheme, ultimately winning a multimillion-dollar jury verdict. The receiver's theory of the case was that the defendants, in concert with the corporation's chief officer, had harmed the corporation by saddling it with additional liability to the scheme's victims. Following a verdict...

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