Rolling Back the Economic Loss Doctrine in Securities Disputes Against Financial Intermediaries
PIABA Bar Journal, Volume 20, No. 1 (2013)
20 Pages Posted: 27 Jul 2014
Date Written: 2013
While the economic loss doctrine originated in the products liability context, the doctrine soon developed an ability to jump fences. Over time, it became a preferred defense in securities litigation. Although variations exist, the doctrine generally bars common law tort claims in favor of contract claims.
In this Essay I explore the doctrine's application to securities disputes involving financial intermediaries. In particular, I focus on the Florida Supreme Court's decision to limit the application of the economic loss doctrine to the products liability context in Tiara Condominium Association v. Marsh & Mclennan Companies.
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