WASHINGTON — A broker-dealer and its marketing services partner are pushing to dismiss a majority of claims in a $3.5 million lawsuit brought by investment management firm Leader Capital Corp., which alleges the two companies made defamatory and misleading statements that caused a wave of investor withdrawals from its mutual funds.
In a motion for partial dismissal filed Wednesday in Washington federal court, FNEX Capital LLC and Maverick Fund Partners argued that Leader Capital’s claims of securities fraud, contract breaches, and interference with business relationships stem from post-contractual dissatisfaction rather than actionable misconduct.
The Leader Capital FNEX securities fraud lawsuit stems from a business relationship that ended in April 2024, when Leader Capital terminated its agreement with FNEX, citing an “unfavorable” pricing structure and failed renegotiation efforts. Following the termination, Leader alleges that FNEX and Maverick representatives began spreading false and damaging information to investors.
