CCSAC, Inc. v. Pacific Banking Corp
Opinion
trial_court Opinion
1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 7 CCSAC, INC., et al., Case No. 20-cv-02102-JD
8 Plaintiffs,
ORDER GRANTING EX PARTE
9 v. TEMPORARY RESTRAINING ORDER
AND SETTING PRELIMINARY
10 PACIFIC BANKING CORP, et al., INJUNCTION HEARING 11 Defendants. Re: Dkt. No. 12
12 Plaintiffs CCSAC, Inc. and CANN Distributors, Inc. have filed a complaint and an ex parte 13 motion for a temporary restraining order (“TRO”) against defendants Pacific Banking Corp. 14 (“PBC”), Justin Costello and GRN Funds, LLC. Dkt. Nos. 1, 12. 15 Plaintiffs state that they deposited in excess of $2.8 million with PBC pursuant to Capital 16 Management Agreements. Dkt. No. 1 ¶¶ 2-4. They allege that PBC has “failed to execute the 17 financial transactions required of it by the Agreements and by the directions of plaintiffs,” and has 18 instead “unilaterally transferred some or all of plaintiffs’ funds to accounts held by GRN Funds, 19 LLC (‘GRN’), an entity controlled by its chief executive officer, Costello.” Id. ¶¶…