The appellate decision overturns a 2024 judgment that had dismissed the family's accusations of financial elder abuse. The Los Angeles Superior Court had limited the claims to the period after September 11, 2010, citing account gains of $4.2 million.
Maurice Voce, a barber from San Diego, began trading stock options in the 1970s and accumulated an approximate $19 million by the time of his death in August 2012. His accounts, largely managed by John Privitelli after 1993, were valued at $18 million at the time of his passing.
Family members began emailing John Privitelli in December 2010, flagging Voce’s memory lapses and disorientation. Privitelli admitted to being aware of the concerns in early 2011 but continued to execute trades at Voce’s behest.
Trial court dismissed the elder abuse claim, arguing the portfolio’s appreciation negated the claim, and it rejected the excessive‑trading argument for lack of expert evidence.
Appeal judges held that a timely claim is not automatically barred by the statute of limitations if the defendant’s conduct still falls within the period. They emphasized the duty to protect a client’s vulnerable state.
The case will proceed to a new hearing scheduled for early 2027, with Morgan Stanley and Privitelli expected to submit evidence on risk assessment protocols.