EFG Bank AG, Cayman Branch v. Transamerica Life Insurance Company

I. INTRODUCTION AND BACKGROUND

Presently before the Court is plaintiffs’ motion to modify the scheduling order and for leave to file a fourth amended complaint. Given the parties’ familiarity with this case, the Court recites only the factual and procedural background that gives rise to the motion. A. The EFG Bank Action Plaintiffs filed this action against defendant Transamerica Life Insurance Company (“Transamerica”) on October 31, 2016. Dkt. 1. Plaintiffs thereafter filed a first amended complaint against Transamerica on March 30, 2017. Dkt. 24. The first amended complaint asserted claims for: (1) breach of contract; (2) contractual breach of the implied covenant of good faith and fair dealing; (3) tortious breach of the implied covenant of good faith and fair dealing; and (4) declaratory relief. Id. Transamerica moved to dismiss the plaintiff's first amended complaint on May 15, 2017, dkt. 31, and the Court denied Transamerica’s motion on July 10, 2017, dkt. 44. The parties stipulated to allow plaintiffs to file a second amended complaint, dkt. 47, and the plaintiffs did so on August 24, 2017, dkt. 49. Transamerica filed an answer to plaintiffs’…