Sponsored By
Trusts & Estates logo

Fairbairn v. Fidelity Investments Charitable Gift Fund: Plaintiffs’ Day in Court Still Possible, But Will Victory be Pyrrhic?Fairbairn v. Fidelity Investments Charitable Gift Fund: Plaintiffs’ Day in Court Still Possible, But Will Victory be Pyrrhic?

Christopher P. Woehrle discusses the implications of a recent case.

Christopher P. Woehrle, Professor and Chair, Department of Tax and Estate Planning

March 25, 2020

5 Min Read
TE-philanthropy.jpg

The litigation between Emily and Malcolm Fairbairn (Fairbairns) and Fidelity Investments Charitable Gift Fund (Fidelity) remains ongoing after the recent disposition of motions for summary judgment made by both litigants.1 The U.S. District Court for the Northern District of California denied Fidelity’s motion for partial summary judgment, while granting the Fairbairns’ motion for summary judgment on Fidelity’s affirmative defenses of waiver, estoppel and unclean hands.2

The Fairbairns claimed Fidelity induced their donation to its donor-advised fund (DAF) with false promises to employ state-of-the-art techniques of share liquidation and not trade more than 10% of the gifted stock (Energous) as well as to defer trading until the year afte...

Unlock All Access Premium Subscription

Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!

Already Subscribed?

About the Author

Christopher P. Woehrle

Professor and Chair, Department of Tax and Estate Planning, College for Financial Planning, a Kaplan Company

Christopher P. Woehrle is an adjunct professor of taxation at the Widger School of Law, Villanova University in Villanova, Pa.

You May Also Like