Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Morgan v. MML Investors Services, Inc.

Court of Appeals of Mississippi

August 29, 2017

HOLLY S. MORGAN APPELLANT
v.
MML INVESTORS SERVICES, INC., MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY AND STEPHEN COLLINS, INDIVIDUALLY AND D/B/A COLLINS FINANCIAL NETWORK APPELLEES

          DATE OF JUDGMENT: 04/19/2016

         HINDS COUNTY CIRCUIT COURT, FIRST JUDICIAL DISTRICT HON. WILLIAM A. GOWAN JR. TRIAL JUDGE

          ATTORNEYS FOR APPELLANT: ROBERT G. GERMANY CRYMES G. PITTMAN

          ATTORNEYS FOR APPELLEES: ROY H. LIDDELL TREY C. DELLINGER REBECCA B. COWAN WHITMAN B. JOHNSON III BEN C. LEWIS

          BEFORE GRIFFIS, P.J., WILSON AND WESTBROOKS, JJ.

          WILSON, J.

         ¶1. Ralph "Skip" Moore was a registered representative of Massachusetts Mutual Life Insurance Company (MassMutual) and a unit sales manager for Collins Financial Network (CFN). Holly Morgan had known Moore for twenty-five years. In February 2009, Morgan gave Moore $20, 000 in cash. She says the cash was for an unspecified "investment" and that Moore promised an eighteen to twenty-five percent return in only six months. However, Moore says that Morgan asked him to hold the cash for her as a favor and later told him to bet it on the Super Bowl. He says that he eventually lost all the money on bets on the Super Bowl and basketball games. In February 2009, Morgan also gave Moore a check for $75, 000. The payee line was blank, and Moore filled in his name. Morgan says these funds were for another unspecified "investment" and that Moore promised a return of eighteen to twenty-five percent in twelve to eighteen months. However, Moore says that the funds were for a loan to a friend of his. The friend was unable to repay the loan.

         ¶2. Morgan sued Moore, MassMutual and one of its subsidiaries, and Stephen Collins, individually and d/b/a CFN, in circuit court. Morgan eventually narrowed her complaint to claims for breach of contract and conversion. She argued that MassMutual and Collins were liable because they clothed Moore with "apparent authority" to enter into the alleged investment contracts and to accept funds for the alleged investments. She also argued that Collins was liable because Moore was CFN's employee. On motions for summary judgment, the circuit court ruled that there were no genuine issues of material fact and that neither MassMutual nor Collins was liable for Moore's alleged actions under a theory of apparent authority or otherwise. The court granted summary judgment for both and certified its rulings as final pursuant to Mississippi Rule of Civil Procedure 54(b), [1] and Morgan filed a timely notice of appeal. We find no error and affirm.

         FACTS AND PROCEDURAL HISTORY

         ¶3. Morgan and Moore have been casual acquaintances for over twenty-five years. In January 2009, they crossed paths at Tico's Steak House in Ridgeland. They spoke briefly, and Morgan gave Moore her telephone number. He soon called her, and they made plans to meet for lunch at Nick's Restaurant in Jackson.

         ¶4. Morgan and Moore discussed his position as unit sales manager for CFN[2] and a registered representative of MassMutual. Morgan expressed interest in purchasing a life insurance policy from Moore, and on February 17, 2009, Morgan completed and signed an application for life insurance with MassMutual at Moore's office. However, Morgan ultimately decided to abandon the application. Morgan never submitted any payment in connection with this application and did not expect MassMutual to issue a policy to her.

         ¶5. In February 2009, Morgan gave Moore two large sums of money. In early February, she gave him $20, 000 in cash. Morgan says that the cash was for an "investment." She alleges that Moore promised that she would be repaid the principal plus eighteen to twenty-five percent interest in only six months. According to Moore, there was no further discussion of the nature of the "investment, " and she never received or requested any documentation concerning the investment. Morgan was unsure whether she gave Moore the cash at Nick's or at his office.

         ¶6. On February 17, 2009, Morgan gave Moore a check for $75, 000. Morgan says that this money was also for an unspecified "investment." She alleges that Moore promised that she would be repaid the principal plus eighteen to twenty-five percent interest in twelve to eighteen months. Once again, according to Morgan, there was no further discussion of the nature of the "investment, " and she never received or requested any documentation of it. Morgan says that she gave Moore the check in his office and that she left the payee line blank because Moore said he would "stamp" it for her. When Morgan received her bank statement, she noticed that Moore had written in his name as the payee, but this did not concern her.

         ¶7. Moore's version of events is significantly different. He claims that after he and Morgan reconnected at Tico's, they began a romantic relationship. He denies that he provided Morgan any financial services other than accepting her application for a life insurance policy, which she ultimately decided against. Moore claims that Morgan gave him the $20, 000 cash to hold while she was on vacation in Cabo San Lucas, Mexico. Moore claims that Morgan gave him the cash at Nick's and that this was not the only time that she asked him to hold a large sum of cash for her. Moore says that after Morgan returned from Mexico, he tried to return the money to her multiple times, but she told him to continue holding it. According to Moore, Morgan eventually told him to bet the money on the Super Bowl. He lost $10, 000 on the ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.