United States Ninth Circuit

Summary judgment in favor of defendant EverBank on a breach of contract claim brought by a certified class of customers who purchased certificates of deposit (CDs) from EverBank denominated in Iceland krona is: 1) affirmed in part, where no reasonable jury could find that EverBank acted in bad faith when it exercised its discretion to close the CDs to limit losses to itself or its customers; 2) reversed in part, where a reasonable jury could find that the terms and conditions were silent with respect to the currency conversion rate that applied when the CDs were closed and the proceeds from the CDs returned to the class members; and 3) remanded to resolve whether EverBank breached the terms and conditions.

Appellate Information

• Decided 10/31/2014
• Published 10/31/2014

Judges

• Murguia

Court

• United States Ninth Circuit

Counsel