San Jose, CA (PRWEB) June 12, 2014
Berliner Cohen, Attorneys at Law obtained a legal victory against East West Bank when the Court allowed fraud causes of action against the bank to go before a jury. The case is entitled Sorrento Pavilion, LLC, et al. v. East West Bank et al., Case No. 112CV233122 and was filed on September 27, 2012 in Santa Clara County Superior Court.
On May 21, 2014, Judge Patricia Lucas denied five of the twelve motions for summary adjucation from defendant East West Bankcorp. On her reply to the twenty-third cause of action of Aiding and Abetting Fraud, Judge Patricia Lucas writes “triable issues remain with respect to the fraud claims to support the aiding and abetting cause of action”.
In the lawsuit, Plaintiffs, who are commercial borrowers, allege that East West Bank’s employees lied and hid information, resulting in the wrongful foreclosure of Plaintiffs’ property. According to court documents, East West Bank purportedly instructed its employees to lie about the status of loans and hide material information from borrowers.
East West Bank President Dominic Ng filed a declaration with the court and recently refused to appear to answer questions at deposition regarding the sale of Plaintiffs’ loan. In his declaration, he sought protection from the Court, claiming that, while he was involved in discussions relating to the secret sale of Plaintiffs’ loan, he “doesn’t remember” anything that was discussed.
The trial is set for June 30, 2014.
Office: Berliner Cohen, Attorneys at Law
Ten Almaden Boulevard, Eleventh Floor
San Jose, Ca 95113