Plaintiffs Fourth Amended Petition - Texas State Securities Board

Value and Gray. Pursuant to the Order Appointing HCF Receiver, a receiver has already
been appointed for Defendant Hill Country Funding. Pursuant to additional orders of the
court, an Special Receiver for Retirement Value has been appointed to investigate
potential claims against Wells Fargo, and if warranted, to prosecute such claims.
140. Unless all receivership relief is maintained, the funds and other property held by RV
Defendants and HCF Defendants will be dissipated and lost, to the immediate and
irreparable harm of the persons who purchased the securities from same and to the harm
of the general public. There is no adequate remedy at law.
141. After final hearing, it is necessary to appoint permanent receivers for the affairs of
Retirement Value and HCF. No adequate remedy is available at law.
142. In addition, pursuant to Section 17.47(d) of the DTPA, the court may make any orders
necessary to restore money or property that may have been acquired by means of any
unlawful act or practice, which would include the appointment of a receiver under
Section 64.001(a)(6) of the Texas Civil Practice & Remedies Code. As set forth in detail
above, the continuing appointments of receivers for Retirement Value and Hill Country
Funding are necessary to restore money or property which RV Defendants and HCF
Defendants and their agents acquired by their unlawful acts or practices.
143. All receivership relief sought in this case is available to the State of Texas as Plaintiff
without bond under Section 25-1 of the Texas Securities Act and Section 6.001 of the
Texas Civil Practice and Remedies Code.
144. Eduardo S. Espinosa of K&L Gates, LLP, is an attorney practicing in Dallas, Texas,
and has already been appointed to serve as Receiver for Defendant Retirement Value
in this case.
145. Donald R. Taylor of Taylor Dunham, LLP, is an attorney practicing in Austin, Texas,
and has already been appointed to serve as Receiver for Defendant HCF.
146. Janet Mortenson an attorney practicing in Houston, Texas, has already been appointed
to serve as Special Receiver for the purposes of evaluating potential claims against
Wells Fargo Bank NA, filing claims as she deems appropriate, and overseeing the
prosecution of said claims through trial, settlement or other resolution
147. Pursuant to Section 25-1 of the Texas Securities Act and Section 17.47 of the DTPA, the
State of Texas seeks to maintain the appointment of each Receiver identified above. In
addition to the foregoing, the Receivers’ appointments are also authorized by Section
64.001(a)(5) of the Civil Practice and Remedies Code.
State of Texas v. Retirement Value, LLC, et al.
Plaintiff’s Fourth Amended Verified Petition Page 45 of 57