According to the new complaint, Swanson never argued at trial that Open Investments’ liability was limited to its role as guarantor. Instead, he referred to both companies collectively as “Open,” allegedly blurring their separate legal identities before the jury.
Open Investments says it attempted to raise its guarantor-only defense during postjudgment proceedings and on appeal to the Tenth Circuit, but both courts rejected the argument as untimely because it had not been properly preserved at trial.
The company now asserts claims for negligence and breach of fiduciary duty, alleging that Holland & Hart advanced the interests of another client at its expense and breached duties of care and loyalty. It seeks at least $21.4 million in compensatory damages, along with reimbursement of legal fees it paid for what it calls negligently performed work.
Attorneys for Open Investments and representatives of Holland & Hart did not immediately respond to requests for comment.
Open Investments is represented by Rumberger Kirk & Caldwell PA. The case is Open Investments LLC v. Swanson et al., No. 1:26-cv-00774, pending in the District of Colorado.
