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 AMENDED COMPLAINT

COMERICA BANK,

13 Defendant.

15 I. INTRODUCTION Plaintiffs CS Bio Co. and CCS Management, LLC (collectively “CS”) are related commercial entities who had a long-term banking relationship with defendant Comerica Bank. CS brought this action alleging, in essence, that in 2019 Comerica backtracked on its promises to provide a new loan in the amount of $6.6 million to fund the construction of improvements to a property CS owned. The initial complaint was dismissed, with leave to amend, because it did not plausibly allege Comerica made misrepresentations on which CS reasonably relied. The order observed that CS did not object to judicial notice being taken of the provisions of a “term sheet” it had executed. That term sheet fatally undermined any claim that CS had reasonably…