Bancorp Holdings LLC v. Citigroup Global Markets Inc

Filing 20

ORDER denying 8 Motion to Dismiss; granting 14 Motion to Substitute Party Heartland Community Bank as the real party in interest, and directing plaintiff to file conventionally with the Clerk of the Court an original and two copies of the amended complaint naming the real party in interest. Signed by Judge James M. Moody on 2/8/08. (bkp)

Heartland Community Bank v. Citigroup Global Markets Inc

Doc. 20

IN THE UNITED STATES DISTRICT COURT EASTERN DISTRICT OF ARKANSAS WESTERN DIVISION

BANCORP HOLDINGS VS. CASE NO. 4:07CV-1113 JMM

PLAINTIFF

CITIGROUP GLOBAL MARKETS, INC. D/B/A SMITH BARNEY ORDE R

DEFENDANT

Pending before the Court are defendant's Motion to Dismiss First Amended Complaint and plaintiff's Motion to Substitute Party or Dismiss Without Prejudice. For the reasons stated below, defendant's motion is denied (#8) and plaintiff's motion is granted (#14). Defendant bring their motion pursuant to Federal Rule of Civil Procedure 12(b)(6) contending that plaintiffs have failed to state a claim because plaintiff cannot purse tort claims assigned by a third party under Arkansas law and that the First Amended Complaint failed to allege fraud with specificity as required under Federal Rule of Civil Procedure 9(b). Plaintiff seeks permission pursuant to Federal Rule of Civil Procedure to substitute the real party in interest, Heartland Community Bank and contends that allegations made in the First Amended Complaint are sufficient under Rule 9(b) to allege fraud. Plaintiff's request to substitute Heartland Community Bank as the real party in interest is granted. See Federal Rule of Civil Procedure 17(a). The Court has reviewed the complaint and finds that plaintiff has plead with specificity the elements of fraud as required under Federal Rule of Civil Procedure 9(b) as the complaint

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gives specific examples of the circumstances giving rise to its fraud claim. Plaintiff is directed to file conventionally with the Clerk of the Court an original and two copies of the amended complaint naming the real party in interest. IT IS SO ORDERED THIS 8 day of February , 2008.

James M. Moody United States District Judge