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COWAN BROS., L.L.C. v. AMERICAN STATE BANK

Nos. 24427, 24433.

743 N.W.2d 411 (2007)

2007 SD 131

COWAN BROTHERS, L.L.C.; Tigh Cowan; Tork Cowan; and Treg Cowan, Plaintiffs and Appellants v. AMERICAN STATE BANK, Defendant and Appellee.

Supreme Court of South Dakota.

Decided December 19, 2007.

Attorney(s) appearing for the Case

Michael J. Schaffer, Paul H. Linde of Schaffer Law Office, Prof. LLC, Sioux Falls, for plaintiffs and appellants.

J. Crisman Palmer, Jason M. Smiley of Gunderson, Palmer, Goodsell & Nelson, LLP, Rapid City, for defendant and appellee.

GILBERTSON, Chief Justice.

[¶ 1.] In their answer to a foreclosure action, Cowan Brothers, LLC, Tigh Cowan, Tork Cowan, and Treg Cowan (Cowans) initiated a counterclaim against American State Bank (ASB), asserting thirteen causes of action1 arising out of the parties' lender/borrower relationship. The circuit court granted ASB's motion for summary judgment on five of the causes of actions, one of which was breach of fiduciary duty...

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