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Robertson v. MetLife Securities Inc.

Alleged Wrongs Not Plausibly Alleged Done in Connection with Sale, Purchase of Security

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DECISION AND ORDERINTRODUCTION

*1 On April 14, 2016, Plaintiff Fredia Robertson filed a Complaint against Defendants¹ on behalf of Mary Katherine Hart alleging one federal-law claim under a section of the Securities Exchange Act, 15 U.S.C. §78j(b) and enacted under 17 C.F.R. 240.10b-5 (“Rule 10b-5″), and seven state-law claims all alleging that Defendants operated a scheme to defraud Hart. See ECF No. 1. Specifically, Plaintiff alleged the following eight claims: (1) Phillips and theMerritts forged a power of attorney giving the Merritts authority to act as agents for Hart on October 29, 2010; (2) Phillips and the Merritts forged another power of attorney giving the Merritts authority to act as agents for Hart on July 30, 2010; (3) Xerox stole money from Hart’s 401(k) and pension plan; (4) the Merritts and Xceed FCU stole money out of Hart’s accounts at Xceed FCU; (5) the MetLife Defendants and the Merritts stole Hart’s money from her retirement accounts; (6) the MetLife Defendants and the Merritts violated 15 U.S.C. §78j(b) and Rule 10b-5 by transferring Hart’s pension into a MetLife annuity; (7) the MetLife Defendants and the Merritts violated New York*2

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