Berkenfeld v. Lenet, No. 18-1106 (4th Cir. 2019)Annotate this Case
Plaintiffs filed suit alleging that negligent advice from their financial advisor and his employer, Morgan Stanley, resulted in less favorable tax distribution options on their annuities inherited from the estate of Claire Blumberg. The Fourth Circuit held that the district court erred in awarding defendants summary judgment based on plaintiffs' alleged contributory negligence. The court held that Maryland had a high bar for taking questions of contributory negligence from a factfinder and plaintiffs' evidence offered a basis for a reasonable factfinder to determine that they justifiably relied on defendants' advice. Accordingly, the court reversed and remanded.