Walker and Beckmann Secure 11th Circuit Victory for BankTrust

Firm members George Walker and Paul Beckmann obtained an affirmance from the 11th Circuit Court of Appeals on January 17, 2014, of a May 2013 federal district court order dismissing claims against BankTrust. A copy of the 11th Circuit opinion can be reviewed here. Plaintiffs filed suit in the United States District Court for the Northern District of Florida, contending that the bank caused them damage by breaching fiduciary duties, by fraud, and by violation of state and federal RICO acts. Walker and Beckmann first persuaded the district court to stay the litigation based on a prior pending action in Florida state court and, after successfully obtaining dismissal of the claims against the bank in the state court action, successfully persuaded the district court to lift the stay and dismiss the claims in federal court with prejudice. The 11th Circuit initially reversed the district court judgment, but Walker and Beckmann filed a Petition for Panel Rehearing and pointed out controlling Florida law that justified the decision of the district court.