State of West Virginia, Plaintiff Below, Appellee v. Chase Securities, Inc., Defendant and Third-Party Plaintiff…

Summary

The court held that state executive officials serving on the State Board of Investments were entitled to qualified immunity from personal liability for approving an investment transaction. Immunity applied because the officials acted within their authority, no clearly established law prohibited the transaction, and there was no allegation or evidence of fraudulent, malicious, or oppressive conduct. The court affirmed dismissal of the third-party complaint.