SIEPEL v. BANK OF AMERICA, N.A.

Nos. 07-1899, 07-1906.

526 F.3d 1122 (2008)

George SIEPEL; Phyllis Siepel; H. Craig Williams; Elinor Tama Williams; Constance Elaine Williams; Donna N. Reinke; Robert Cohen; Carl M. Page; and all others similarly situated, Plaintiffs-Appellants/Cross-Appellees, v. BANK OF AMERICA, N.A., Defendant-Appellee/Cross-Appellant, and Columbia Funds Series Trust, formerly known as Nations Funds Trust; Bank of America Corporation; Columbia Management Advisors, LLC; Columbia Management Distributors, Inc.; Bank of America Investment Services, Inc., Defendants-Appellees.

United States Court of Appeals, Eighth Circuit.

Filed: May 19, 2008.


Attorney(s) appearing for the Case

Richard A. Lockridge, argued, Minneapolis, MN, Gregg M. Fishbein, Minneapolis, MN, Richard D. Greenfield, Easton, MD, and Steven M. Hamburg, St. Louis, MO, on the brief, for appellants/cross-appellees.

James C. Martin, argued, Pittsburgh, PA, Gregory S. Spencer, San Francisco, CA, Gregory B. Jordan, Mary J. Hackett, and Christopher J. Soller, Pittsburgh, PA, and Jeffrey Scott Russell and Elizabeth C. Carver, St. Louis, MO, on the brief, for Appellee/Cross-Appellant Bank of America and Appellees Bank of America Corp., Columbia Management Advisors, Columbia Management Distributors, and Banc of America Investments.

Stephen M. Colangelo, argued, Washington, D.C., Laurie A. Hand and Tim A. O'Brien of Washington, D.C. and Barry Short, St. Louis, MO, on the brief, for Appellee Columbia Funds Series Trust.

Before COLLOTON and SHEPHERD, Circuit Judges, and GOLDBERG, Judge.


SHEPHERD, Circuit Judge.

Several beneficiaries of trust accounts maintained by Bank of America, N.A., filed a class action complaint against the Bank, its holding corporation, and affiliated investment companies. In addition to alleging claims under federal securities laws, the Plaintiffs alleged state-law claims that the Defendants were unjustly enriched and breached fiduciary duties they owed to the beneficiaries. On the...

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