Maryland National Bank v. Cummins

RODOWSKY, Judge.

In this class action the Circuit Court for Baltimore City held that investment practices for personal trusts followed by a corporate trustee for nearly ten years violated the prudent investor rule. We consider multiple issues relating to liability and to the relief granted.

The corporate trustee is the appellant, Maryland National Bank (MNB). Appellees, the plaintiffs below (Plaintiffs), are income beneficiaries of a testamentary trust administered by MNB which was funded in September 1972. Plaintiffs sued on April 6, 1983. The circuit court certified Plaintiffs as…