Hardin County Savings Bank v. Housing & Redevelopment Authority of the City of Brainerd

OPINION

ANDERSON, PAUL H., Justice.

This case requires us to determine whether the appellants, six banks, pleaded a negligent misrepresentation claim with particularity under Minn. R. Civ. P. 9.02. The Banks allege that the negligent misrepresentation of the respondent, James H. Bedard, Inc., caused them to be damaged when the Housing and Redevelopment Authority of the City of Brainerd defaulted on bonds held by the Banks. More specifically, in November 2003 the Banks purchased $3.3 million in bonds from the City of Brainerd. The bonds helped finance a residential and commercial development…