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Home New Cases Wedbush Securities Seeks Dismissal of Trustee’s $120M Lawsuit

Wedbush Securities Seeks Dismissal of Trustee’s $120M Lawsuit

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September 17, 2021, District of Delaware – Defendant Wedbush Securities, Inc. recently moved for entry of an order dismissing a complaint brought by Trustee David W. Carickhoff for the bankruptcy estate of Live Well Financial, Inc. to avoid and recover alleged fraudulent transfers. 

Specifically, through its complaint, the Trustee seeks to avoid and recover over $120 million in alleged fraudulent transfers that Live Well purportedly made to or for the benefit of Wedbush from June to October 2017. As alleged by the Trustee, these transfers were made in furtherance of, and to conceal, a massive fraud perpetrated by certain former directors, officers, and employees of Live Well – principally, Michael Hild, Eric Rohr, and Darren Stumberger.

The case is In re Live Well Financial, Inc. and is being administered under Case Number 19-11317-LSS. The law firm of Potter Anderson & Corroon LLP is representing Defendants and Reid Collins &Tsai LLP is representing the Trustee in the Debtor’s bankruptcy case.

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