Thieltges v. Royal Alliance Assocs., Inc.Annotate this Case
Based on advice from a licensed securities salesperson registered with Royal Alliance Associates, Inc., two ranching organizations and a family farmer (collectively, Appellants) invested in certain properties that eventually stopped paying or paid at a greatly reduced rate. Appellants filed separate complaints against Royal Alliance, alleging negligence, negligent misrepresentation, and breach of fiduciary duty, among other claims. Royal Alliance moved for summary judgment, arguing that the claims were subject to the three-year tort statute of limitations, and it had not been named in any of the complaints until three and a half years after the injuries became known. Summary judgment was granted in favor of Royal Alliance. On appeal, Appellants claimed that the facts constituting their claims against Royal Alliance were concealed or self-concealing such that they could not have been discovered in the exercise of due diligence. The Supreme Court affirmed, holding that the facts constituting Appellants’ claims against Royal Alliance could have been discovered in the exercise of due diligence, and therefore, the three-year statute of limitations was not tolled.