Magistrate Judge Dismisses Claims Bank Breached Promises With $52M Stock Sale

Mealey's (March 3, 2021, 8:45 AM EST) -- SAN FRANCISCO — After a bench trial, a California federal magistrate judge on Feb. 26 entered judgment in favor of a financial company and found no evidence supporting a married couple’s claims that the company violated state laws, including California’s unfair competition law (UCL), or breached a duty of care by selling 1.93 million shares the couple intended as a charitable donation in less than three hours....