Disgruntled investors can proceed with breach of contract and fraud claims against a Smithtown, N.Y., financial company and its president, a Suffolk County judge has held.
In Drain v. Paragon Capital Management, 22454-2006, investors who placed funds with Paragon Capital Management claim its president, Walter Wisniewski, and Paragon Capital violated allocation provisions, refused to follow instructions to sell the plaintiffs’ investments or equity, and used misinformation and threats to avoid complying with the investors’ wishes.
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