Banking
Breach of Contract
Breach of the Implied Covenant of Good Faith and Fair Dealing
John Dugan, Aurora Dugan, and Matthew Tapscott, individually and on behalf of others similarly situated v. Lloyds TSB Bank, PLC
Published: Oct. 27, 2012 | Result Date: Sep. 5, 2012 | Filing Date: Jan. 1, 1900 |Case number: 3:12-cv-02549-WHA Bench Decision – Defense
Court
USDC Northern
Attorneys
Plaintiff
Lawrence P. Riff
(Los Angeles County Superior Court)
Defendant
Julie E. Schwartz
(Perkins Coie )
Mark C. Dosker
(Squire Patton Boggs LLP)
Bruce Khula
(Squire Patton Boggs LLP)
Facts
Plaintiffs brought a class action lawsuit against Defendant, alleging multiple claims including fraud and breach of contract on the grounds that Defendant deceived Plaintiffs into obtaining highly risky "dual currency" dollar-yen loans and then unreasonably increased interest rates. Defendants filed a motion to dismiss.
Result
Defendant's motion denied in part as to breach of contract claims, but granted in part as to fraud claims with Plaintiffs given leave to amend.
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