Johnson v. Drolson
Lee Johnson, as trustee of the Lee Johnson Trust, filed this action against Paul Drolson and Drolson's firm, Wealth Advisors.[1] Johnson alleged that Drolson, while acting as Johnson's investment advisor, negligently encouraged him to invest $250,000 in a hedge fund, and that Johnson lost his $250,000 investment. After a bench trial, the trial court determined that Drolson committed professional negligence and that he breached his fiduciary duty in encouraging Johnson to invest in the fund. The court also found that Johnson was 30 percent comparatively negligent. The trial court found that Johnson suffered $250,000 in damages, and reduced that amount by 30 percent, due to Johnson's comparative negligence. The court entered judgment against Drolson in the amount of $175,000.
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