Wood River Capital Resources v. Stewart Title Guaranty
This appeal arises out of one of a series of related complaints by investors who purchased ownership interests in senior housing facilities. The appellants in this appeal are investors who purchased ownership interests in Wood River Village, a senior housing facility located in Pennsylvania. Appellants claim they were defrauded and sued various parties associated with the transaction, including defendant and respondent Stewart Title Guaranty Company (Stewart). In its role as title insurer, Stewart allegedly performed certain escrow functions in the individual transactions in which appellants purchased their interests. Although Stewart was not a party to the escrow instructions and had no contact with appellants, appellants nonetheless sued Stewart for breach of fiduciary duty, negligence, fraud, and fraudulent nondisclosure. The trial court entered a judgment of dismissal after granting Stewart’s demurrer without leave to amend. We affirm the judgment.
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