Brooks v. Transamerica Financial Advisors

hWe granted writs in this matter to review the trial court’s denial of a motion for summary judgment by the defendant, Pershing, LLC Delaware (“Pershing”). At issue is whether Pershing is a “bank” under Chapter 4 of the Uniform Commercial Code (“U.C.C.”), La. R.S. 10:4-101 et seq., such that the failure of the plaintiff, Debbie Jo Brooks (“Brooks”), to provide notice of unauthorized signatures on certain checks precludes her claim against Pershing to recover funds wrongly withdrawn from her brokerage account by her former partner, Martha Jill Tingstrom (“Ting-strom”). Because the evidence…