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UNLIMITED ADJUSTING GROUP, INC. v. WELLS FARGO BANK, N.A.

No. B205314.

174 Cal.App.4th 883 (2009)

UNLIMITED ADJUSTING GROUP, INC., et al., Plaintiffs and Appellants, v. WELLS FARGO BANK, N.A., Defendant and Respondent.

Court of Appeals of California, Second District, Division Five.

June 4, 2009.

Attorney(s) appearing for the Case

Lim, Ruger & Kim, Christopher Kim, Marc Manason, Bryan King Sheldon and George Busu for Plaintiffs and Appellants.

Barton, Klugman & Oetting, Charles J. Schufreider, Ronald R. St. John and Mark A. Newton for Defendant and Respondent.

OPINION

MOSK, J.—

INTRODUCTION

This case presents a novel issue under California Uniform Commercial Code section 3404, subdivisions (b)(i) and (d).1 Plaintiffs2 lost more than $6 million in an investment fraud scheme. The perpetrator led plaintiffs to believe that brokerage accounts in their names would be opened...

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