Casey v. U.S. Bank National Ass'n

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the complaint “must allege the defendant’s actual knowledge” of the specific act of fraud to adequately plead aiding and abetting fraud
• holding that the complaint “must allege the defendant’s actual knowledge” of the specific act of fraud to adequately plead aiding and abetting fraud
• explaining that “a bank has 17 no duty to ‘police’ accounts, even fiduciary or trust accounts”
• explaining that California law creates liability when the bank “knows the other’s conduct constitutes a breach of duty and gives substantial assistance or encouragement to the other to so act”
• noting that complaint “contain[ed] no allegation the 18 banks knew [fiduciaries] were misappropriating funds from [company], or that the money 19 deposited by the [fiduciaries] into the Fraudulent Entities’ accounts belonged to [company]”
• explaining that “[k]nowledge is 13 the crucial element,” and “California courts have long held that liability for aiding and abetting 14 depends on proof the defendant had actual knowledge of the specific primary wrong the 15 defendant substantially assisted”

Source: CourtListener parenthetical corpus (CC0).