Eleventh Circuit Affirms Florida District Court Summary Judgment Award
MW obtained a unanimous affirmance by the Eleventh Circuit of a summary judgment award by the Southern District of Florida dismissing an action for misrepresentation and breach of duty in the sale of bank securities against the Bank’s former CEO.
The district court found that there was no issue of fact as to MW’s client’s honesty. The court dismissed the breach of duty claims because MW successfully showed that the special circumstances required for a bank officer to have a fiduciary duty did not arise from the meetings between the parties. The Eleventh Circuit affirmance put an end to an action commenced in 2012, which involved extensive discovery and motion practice in the trial court.
The appeal was argued by Partner Joel Miller.