Studio 1220, Inc. v. Intralinks, Inc.

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

INFORMATECH CONSULTING, INC., et Case No. 20-cv-02892-VC al.,

Plaintiffs, ORDER GRANTING MOTION TO

COMPEL AS TO BANK OF AMERICA

v. NORTH AMERICA; GRANTING

MOTIONS TO DISMISS AS TO BANK

BANK OF AMERICA CORPORATION, OF AMERICA CORPORATION AND

et al., INTRALINKS Defendants. Re: Dkt. Nos. 53, 54,

To assist businesses during the COVID-19 pandemic, the federal government created the Paycheck Protection Program, through which small businesses could apply for and receive federally guaranteed emergency payroll loans. Private lenders such as Bank of America acted as program intermediaries, processing the loan applications submitted by businesses and funding the loans approved by the government. The plaintiffs, Informatech Consulting and Studio 1220, are two small businesses that submitted PPP loan applications through Bank of America. Their applications were not processed until after the initial funds allocated for PPP loans were already exhausted. The plaintiffs allege that this delay was due to Bank of America improperly prioritizing loan…