C S Bio Co. v. Comerica Bank

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 9 C S BIO CO., et al., Case No. 22-cv-05033-RS Plaintiffs, 11 v. ORDER GRANTING MOTION TO DISMISS, WITH LEAVE TO AMEND

COMERICA BANK,

13 Defendant.

15 I. INTRODUCTION Plaintiffs C S Bio Co. and CCS Management, LLC are related commercial entities (collectively “CS”) who had a long-term banking relationship with defendant Comerica Bank. In the course of that relationship, CS had obtained a number of loans from the bank. In 2019, CS applied to Comerica for a new loan in the amount of $6.6 million to fund the construction of improvements to a property CS owned. CS alleges Comerica thereafter made various representations that the loan had been or would be approved, and would be funded. CS claims it relied on those representations to its detriment by not terminating the project while it still could and by making payments towards the construction costs. CS brought this action after…