CCSAC, Inc. v. Pacific Banking Corp
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 CCSAC, INC., et al., Case No. 20-cv-02102-JD
Plaintiffs,
ORDER GRANTING EX PARTE
v. TEMPORARY RESTRAINING ORDER
AND SETTING PRELIMINARY
PACIFIC BANKING CORP, et al., INJUNCTION HEARING Defendants. Re: Dkt. No.
Plaintiffs CCSAC, Inc. and CANN Distributors, Inc. have filed a complaint and an ex parte motion for a temporary restraining order (“TRO”) against defendants Pacific Banking Corp. (“PBC”), Justin Costello and GRN Funds, LLC. Dkt. Nos. 1, 12. Plaintiffs state that they deposited in excess of $2.8 million with PBC pursuant to Capital Management Agreements. Dkt. No. 1 ¶¶ 2-4. They allege that PBC has “failed to execute the financial transactions required of it by the Agreements and by the directions of plaintiffs,” and has instead “unilaterally transferred some or all of plaintiffs’ funds to accounts held by GRN Funds, LLC (‘GRN’), an entity controlled by its chief executive officer, Costello.” Id. ¶¶…