The Second Appellate District reversed a judgment and remanded. The court held that a complaint stated viable causes of action under the Corporations Code against parties alleged to have marketed and collected commissions on the sale of securities.
Based on representations allegedly made to him by Robert Kroner and Robert E. Kroner Insurance Services, Inc., Glenn Moss invested $1,000,000 in a Diversified Lending Group, Inc. (DLG) Secured Investment Note. DLG later was shut down by the Securities and Exchange Commission for running a Ponzi scheme.
