Rasgaitis v. Waterstone Financial Group, Inc.

Illinois Appellate Court
Civil Court
Case Number: 
2013 IL App (2d) 111112
Decision Date: 
February 20, 2013
2d Dist.
Du Page Co.
Affirmed in part and reversed in part; remanded.
Plaintiffs alleged fraud by Defendants, investment advisory firm and its employees, in soliciting Plaintiffs to mortgage their home and invest the equity in life insurance policies and annuities. Court dismissed complaint with prejudice as time-barred by two year statute of limitations for insurance and annuities. Discovery rule tolled running of statute of limitations, as Plaintiffs could not have reasonably known of their claims until point when Defendant advisors failed to return their multiple telephone calls. Plaintiffs' claims for consumer fraud and common-law fraud were sufficiently pled, as statements at issue were not matters of opinion. (HUTCHINSON and ZENOFF, concurring.)