Collective Asset Partners LLC v. Bernardo K. Pana, ACCP, Lp, 05-13-00552-CV

CAP, a Texas LLC, purchased a property via Schaumburg and Pana with a $5 million Legend Bank loan; CAP alleged undisclosed flood plain issues and overvaluation.
Schaumburg allegedly relayed information to Pana, who facilitated the sale to CAP through ACCP and Firenze Management; profits split 50/50.
CAP later sued Schaumburg and others for negligence, misrepresentation, common law fraud, statutory fraud, and related claims after the loan defaulted and bank foreclosed in 2009.
Trial court granted summary judgment for Pana, ACCP, and Firenze; issues centered on whether Schaumburg’s conduct and related disclosures supported CAP’s fraud claims.
The court affirmed the trial court’s judgment, ruling that appellees’ liability, if any, hinged on Schaumburg’s conduct, which was rejected; no genuine issues of material fact remained for common law or statutory fraud.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether CAP's common law fraud and statutory fraud claims survive summary judgment	CAP; Schaumburg shared information with Pana to induce CAP	Pana/ACCP/Firenze: no false representations by Pana; Schaumburg not liable	CAP's claims fail; judgment affirmed

In re Lyon Fin. Serv., Inc., 257 S.W.3d 228 (Tex. 2008) (court adopted standards for misrepresentation and reliance in fraud claims)
Fort Worth Osteopathic Hosp., Inc. v. Reese, 148 S.W.3d 94 (Tex. 2004) (summary judgment standards; no material fact issue)
Anderton v. Cawley, 378 S.W.3d 38 (Tex. App.—Dallas 2012) (statutory fraud considerations; elements of true/false representations)
Kalyanaram v. Univ. of Tex. Sys., 230 S.W.3d 921 (Tex. App.—Dallas 2007) (duty and reliance considerations in fraud claims)
Anderton v. Cawley, 303 S.W.3d 1 (Tex. App.—Dallas 2009) (fraud elements and burden of proof in appellate review)