pdf

Law360: 2nd Circ. Affirms Nix Of BofA, Citizens Bank US$102M Ponzi Suit

November 13, 2020

A Second Circuit panel dismissed a suit against Bank of America that aimed to hold the bank liable for a US$102 million Ponzi scheme, Law360 reported. The panel’s summary order stated the plaintiffs “have not adequately pled that the banks had actual knowledge of the Ponzi scheme carried out by the individual defendants.”

O’Melveny represented Bank of America in the matter, with a team that included partners Anton Metlitsky and Pamela Miller, and associates Ashley Robertson and Shane Hunt.

Law360 subscribers can read the full article here.