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SFM HOLDINGS, LTD. v. BANC OF AMERICA SECURITIES

No. 07-11178.

600 F.3d 1334 (2010)

SFM HOLDINGS, LTD., Plaintiff-Appellant, v. BANC OF AMERICA SECURITIES, LLC, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

March 25, 2010.

Attorney(s) appearing for the Case

Joel D. Eaton, Podhurst Orseck, P.A., Miami, FL, for Plaintiff-Appellant.

Norman A. Moscowitz, Moscowitz & Mascowitz, P.A., Miami, FL, Robert J. Anello, Morvilli, Abramovitz, Grand, Iason, Anello & Bohrer, P.C., New York City, for Defendant-Appellee.

Before TJOFLAT and CARNES, Circuit Judges, and THRASH, District Judge.

THRASH, District Judge:

SFM Holdings, Ltd. appeals the dismissal with prejudice of its complaint seeking damages for breach of fiduciary duty and constructive fraud. For the reasons set forth below, we affirm the judgment of the district court.

I. Facts and Procedural History

Appellant SFM Holdings, Ltd. ("SFM") is one of 178 investors defrauded in one of the largest securities fraud cases in Florida history. The perpetrators, John Kim and...

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