Oki Semiconductor Company, an Operating Group of Oki America Inc, a Delaware Corp. v. Wells Fargo Bank, National Association

A gang of thieves stole $9 million worth of semiconductors from Oki Semiconductor Company (“Oki”). Anne Tran (“Tran”) laundered the proceeds of the gang’s robbery through her employer, Wells Fargo Bank (“Wells Fargo”). Before the district court, Oki alleged that under the Racketeer Influenced and Corrupt Organizations Act (“RICO”), 18 U.S.C. § 1964 , Wells Fargo was vicariously liable for employee Tran’s activities and the activities of her RICO co-conspirators. Oki alleged also that under Oregon common law Wells Fargo was negligent in supervising and training Tran. The district court dismissed Oki’s complaint and denied its motion for leave to amend, reasoning that because Tran did not proximately cause Oki’s loss, Wells Fargo was not liable to Oki. It held also that Wells Fargo incurred no vicarious liability for the acts of Tran’s RICO conspirators, although those acts did proximately cause Oki’s loss. Finally, the district court dismissed the negligence claim because Oki’s injury was not a reasonably foreseeable result of Wells Fargo’s alleged negligent conduct.

We have jurisdiction over this timely appeal pursuant to 28 U.S.C. § 1291 . We conclude as a matter of law…