Simi Management Corp. v. Bank of America, N.A.

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANT’S MOTION FOR SUMMARY JUDGMENT; GRANTING DEFENDANT’S MOTION TO STRIKE

DONNA M. RYU, United States Magistrate Judge.

Plaintiff Simi Management Corporation, d/b/a Connell Auto Center operated car dealerships. After selling its last franchises in August 2007, Plaintiff discovered that its long-time chief financial officer (“CFO”) Roger Reichart had embezzled millions of dollars from the firm via its accounts with Defendant Bank of America, N.A. (“BofA”). Plaintiff brought suit to recover damages from the bank, asserting that BofA knowingly…