Legal Opinion
Peterboro Tool Co. v. People's United Bank
District Court, D. New Hampshire
Decided January 31, 2012No. Case No. 11-cv-437-PBPublishedCited by 2 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
PAUL BARBADORO, District Judge.
Between 2007 and 2009, the fiduciary for the Peterboro Tool Co, Inc. Profit Sharing Plan and Trust (“the Plan”) stole nearly $250,000 from the Plan’s money market account at People’s United Bank, successor in interest to Flagship Bank and Trust (collectively “the Bank”). The Plan brings suit against the Bank, asserting that the Bank should have detected its fiduciary’s suspicious withdrawals and protected its funds from misappropriation. The Plan argues that the Bank is liable for (1) negligence; (2) breach of fiduciary duty; and (3) breach…
2Cases cited17 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- Marquay v. EnoSupreme Court of New Hampshire · 1995
- Martin v. Applied Cellular Technology, Inc.Court of Appeals for the First Circuit · 2002
- Walls v. Oxford Management Co.Supreme Court of New Hampshire · 1993
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3Cited by2 opinions
- Johnson, et al. v. People's United Bank, N.A.District Court, D. New Hampshire · 2016
- Peterboro Tool v. People’s United BankDistrict Court, D. New Hampshire · 2012