Louisiana Stadium & Exposition District v. Financial Guaranty Insurance

Louisiana Stadium and Expositions District (“LSED”) argues on appeal that the district court improperly dismissed for failure to state a claim under Louisiana law LSED’s four claims against Financial Guaranty Insurance Company (“FGIC”)— failure of cause, breach of an implied obligation, detrimental reliance, and unjust enrichment. Although I would hold that LSED has adequately and plausibly pleaded the above claims so as to survive a motion to dismiss under Rule 12(b)(6) of federal procedure, our de novo review requires us to interpret several provisions of the Louisiana Civil Code which,…