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PATEL v. WAGHA

No. 16-2905.

866 F.3d 846 (2017)

Ketan PATEL, Plaintiff-Appellee, v. Mahendra WAGHA and Portfolio Diversification Group, Inc., Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided August 9, 2017.

Attorney(s) appearing for the Case

Jennifer Kimball , Zubair A. Khan , Attorneys, Trivedi & Khan, LLP, Chicago, IL, for Plaintiff-Appellee.

Siddartha Rao , Attorney, Rao Law Group, New York, NY, Thomas M. Leinenweber , Attorney, Leinenweber Baroni & Daffada, LLC, Chicago, IL, for Defendants-Appellants.

Before Posner, Easterbrook, and Manion, Circuit Judges.

Ketan Patel saved about $560,000, enough to purchase a 7-Eleven franchise. Until the deal closed, he parked the money with Portfolio Diversification Group. The contract gave Mahendra Wagha discretion over the funds' deployment. Wagha chose to invest much of the money in options, speculating that the market would rise...

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