Midwest Feeders, Inc. v. Bank of Franklin

The Fifth Circuit affirmed the district court's judgment against Midwest in an action alleging that the Bank was liable under Mississippi statutory and common law for its participation in a scheme involving fraudulent checks. The court held that Midwest lacked a cause of action under Mississippi Code 75-3-404(d); the Bank did not owe a duty of reasonable care to Midwest, a non-customer; Midwest failed to allege the existence of a civil conspiracy; Midwest failed to plausibly allege a conversion claim under Mississippi Code 75-3-420; and the district court did not abuse its discretion by dismissing as moot Midwest's motion for sanctions. View "Midwest Feeders, Inc. v. Bank of Franklin" on Justia Law