Richard D. Madsen and Nancy Madsen, Boyd A. Swensen and Beatrice Swensen, Blaine Anderson and Sheree Anderson, Hope…

Summary

The Utah Supreme Court reversed summary judgment for former state financial commissioners and remanded for further proceedings. It held that the investors' earlier suit did not have preclusive merits effect because failure to satisfy the governmental notice requirement was a failure of a precondition to suit, that the 1983 immunity amendment could not be applied retroactively to eliminate accrued individual-capacity liability, and that the savings statute extended the time to file the present action. The court reviewed the summary judgment issues de novo.