Tutor Perini Corp. v. Banc of America Securities LLC

MEMORANDUM & ORDER

Nathaniel M. Gorton United States District Judge

This case arises out of unsuccessful investments made by defendant Banc of America Securities LLC (“BAS”), allegedly with the knowledge and acquiescence of co-defendant Bank of America, N.A. (“BANA”), on behalf of plaintiff Tutor Per-irii Corporation (“Tutor Perini”) in a kind of security known as auction rate securities (“ARS”).

Pending before the Court are defendants’ motion for summary judgment and plaintiffs motion for partial summary judgment. For the reasons that follow, defendants’ motion will be allowed and plaintiffs…