Patco fights theft suit dismissal
A Sanford construction company is fighting a motion to dismiss its lawsuit against Portsmouth, N.H.-based Ocean Bank over the unauthorized transfer of more than $500,000.
Patco Construction Co. on Nov. 24 filed a response to Ocean Bank's motion to dismiss the case from federal court, saying the bank, owned by Connecticut-based People's United Bank, "blows the issue off by arguing that Connecticut law, not Maine law, governs the parties' relationship," according to Current Publishing. Ocean Bank filed a motion to dismiss the case Nov. 3.
Patco sued Ocean Bank in September, alleging the bank "failed to provide commercially reasonable security procedures" to prevent hackers from illegally transferring $588,851 in funds. Patco is seeking the return of $345,000 not recovered. The bank's response is due by Dec. 7, and a hearing could be set in U.S. District Court, according to the paper.
Go to the article from Current Publishing >>
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