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McMAHAN v. DEUTSCHE BANK AG

No. 17-2988.

892 F.3d 926 (2018)

John McMAHAN, et al., Plaintiffs-Appellants, v. DEUTSCHE BANK AG, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided June 13, 2018.

Attorney(s) appearing for the Case

Jonathan P. Novoselsky , Attorney, Jonathan P. Novoselsky , Attorney At Law, Glenview, IL, for Plaintiffs-Appellants.

Jonathan B. Amarilio , J. Timothy Eaton , Attorneys, Taft Stettinius & Hollister LLP, Chicago, IL, Keith E. Blackman , Allan N. Taffet , Attorneys, Bracewell LLP, New York, NY, for Defendants-Appellees Deutsche Bank AG, Deutsche Bank Securities, Inc., dba Deutsche Bank.

Lynne M. Fischman Uniman, Esq. , Attorney, Allegaert Berger & Vogel LLP, New York, NY, Thomas F. Falkenberg , Attorney, Falkenberg Ives LLP, Chicago, IL, for Defendants-Appellees Robert Goldstein, American Express Tax and Business Services, Inc.

Before Ripple, Manion, and Kanne, Circuit Judges.

In 2001, John McMahan and his wholly owned corporation, Northwestern Nasal and Sinus Associates, S.C.,1 participated in a tax shelter known as "Son of BOSS." The shelter "is a variation of a slightly older alleged tax shelter known as BOSS, an acronym for `bond and options sales strategy.'"

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