Securities Fund Services Inc. v. American National Bank

MEMORANDUM

LEIGHTON, District Judge.

I

This is a civil diversity action for damages arising out of a wire transfer transaction. New England Merchants National Bank of Boston (NEMB), at the direction of plaintiff Security Fund Services (SFS), requested, by wire, a transfer of funds disbursed by SFS to an account purportedly in the American National Bank and Trust *325Company of Chicago (ANB), the defendant. The dispute arises from questions now being raised concerning crediting of the funds by ANB.

The complaint is in nine counts. Count I alleges that defendant engaged in reckless, willful and wanton…