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Press Room
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Jury awards two men $5 million for investment losses
Published Sunday, May 29, 2005
By Staff
Wise County Messenger
A Wise County jury has awarded two county residents more than $5 million in a civil case involving possible mishandling of investment funds.
According to Derrick Boyd of Simpson, Boyd and Powers, who represented plaintiffs David Graben of Rhome and Frank Strickler of Decatur, investment broker Timothy J. Hutton of Hutton Financial Advisors, had “misrepresented his role.”
 “(Graben and Strickler) hired Hutton to manage their funds,” Boyd said. “He turned out not to be a commissioned financial advisor but just an investment broker.”
Boyd said that the two plaintiffs originally invested more than $2 million with the Florida-based brokerage firm and lost at least $500,000 in the stock market.
At the conclusion of the trial Friday, May 20, the jury found that Hutton and Intersecurities, the Florida-based brokerage firm Hutton was affiliated with, liable for false and misleading acts under the Texas Insurance Code, negligence and breach of fiduciary duty.
The jury assessed compensatory damages of nearly $1.3 million and punitive damages of $150,000 against Hutton and $4 million against Intersecurities.
The defendants were represented by David Jones and Bill Foster of Akin Gump in San Antonio. They could not be reached for comment.
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