Online firearms marketplace GunBroker.com Inc. doesn’t have to pay $1.5 million to a firm that scouted for its employee retirement plan financing, the Eleventh Circuit said Friday in reversing a jury verdict.
The financial firm, Tenor Capital Partners LLC, can’t recover on its theory that GunBroker was unjustly enriched by Tenor’s help in finding a funder, the US Court of Appeals for the Eleventh Circuit said in an unpublished opinion.
That’s because Tenor’s claim depended on an unlawful part of its contract with GunBroker—providing investment advice while not registered as an investment adviser, Judge Robert J. Luck said for the ...
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