Thieltges v. Royal Alliance Associates, Inc., 334 P.3d 382

Thieltges Farms, Chevallier Ranch, and Schindler Ranch sued over TIC investments sold by Acquiron in 2003–2005 and related entities.
Petersen, AZ, Acquiron, and Ahmann were defendants; Petersen was a licensed securities salesperson with Royal Alliance (2002–2005).
Acquiron sold TICs alleged to defer taxes and provide monthly income from DBSI-managed properties; investors were promised 6–7% annual returns.
DBSI announced in October 2008 that cash flow was insufficient; payments to investors ceased for several properties.
DBSI filed for bankruptcy; Royal Alliance was later named as a defendant, with claims of vicarious liability and negligent supervision.
Courts granted summary judgment for Royal Alliance based on accrual date and not tolling due to concealment; appeals consolidated to Montana Supreme Court.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether the claims were self-concealed such that tolling applies.	Chevallier, Schindler, Thieltges argue Royal Alliance concealed Petersen’s securities role to delay discovery.	Royal Alliance contends injuries were not concealed; discovery began Oct 2008.	No; claims could have been discovered with due diligence; tolling not applicable.

Draggin’ Y Cattle Co. v. Addink, 372 Mont. 334, 312 P.3d 451 (2013 MT 319) (complex transactions can render injuries self-concealing)
Bennett v. Dow Chemical Co., 220 Mont. 117, 713 P.2d 992 (1986 MT) (injury known but not all defendants or claims; no tolling for legal rights undiscovered)
Redding v. First Judicial District Court, 281 P.3d 189 (2012 MT 144A) (securities issue; TIC investments securities under MT law)