Legal Question in Legal Ethics in Missouri

Case against financial planner
My partner and I purchased a
franchise based on the professional
counsel of my partners financial
planner. I have never had a contact
with the financial planner, but was
introduced to the concept of the
franchise as an investment and was
personally given a profit proforma
generated by the financial planner on
the anticipate franchise performance
that they created. Do I have a case
against the Financial Planning firm
even though I have never been an
official client? The franchise went
out of business and another
franchisee and client of the Financial
Management firm is suing them for
losses under professional malpractice.
Do I have a case since their
information that was given directly to
me by them was key in my decision
to invest?

Asked on 6/19/08, 6:42 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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0 attorneys agreed

Re: Case against financial planner

No, I don't believe that you do since your connection to the financial planner would appear to lack what the law calls "privity of contract".

Answered on 6/20/08, 9:33 am

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