Camenisch et al v. Umpqua Bank
Case Number:
3:20-cv-05905
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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June 26, 2024
Umpqua Bank Can't Undo Class Cert. In $300M Ponzi Suit
Oregon-headquartered Umpqua Bank has lost its bid to partially decertify a class of investors suing it over claims that it aided and abetted a $300 million Ponzi scheme, and it also can't block those same investors from later seeking prejudgment interest in the case, a San Francisco federal judge has determined.
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December 20, 2022
Umpqua Bank To Face Trial On Investors' $300M Ponzi Claims
Investors who claim Oregon-headquartered Umpqua Bank aided and abetted a $300 million Ponzi scheme led by a since-deceased real estate investment manager will see their claims advance to trial after a San Francisco federal judge found that certain of its employees are accused of "direct participation" in the alleged scheme.
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August 19, 2022
Bank Says It Had No Duty To Police Customer In Ponzi Case
An Oregon-based bank asked a California federal judge to toss a class action by a group of investors who claim the bank aided and abetted a Ponzi scheme allegedly led by a now-deceased real estate investment manager, arguing that under California law it does not have to police customers or be attentive to suspicious activity when it's unaware of specific misconduct.
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February 09, 2022
Investors Seek Class Cert. In Bank-Aided Ponzi Scheme Case
A group of investors urged a California federal court to grant them class certification in their case against a bank they said aided and abetted an alleged Ponzi scheme led by a since-deceased real estate investment manager, claiming they lost thousands in the long-running, multimillion-dollar enterprise.