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Federal Courts -
6th Circuit Court of Appeals - May 17, 2006
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Power & Tel. Supply Co. v. SunTrust Banks, Inc., No. 05-5966,
UNITED STATES COURT OF APPEALS FOR THE SIXTH CIRCUIT, May 17, 2006, Decided , May 17, 2006, Filed
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Overview: Because telephone company had not demonstrated that banks owed it a legal duty to advise it on the appropriateness of the swap transactions distinct from agency and breach of fiduciary duty claims, the district court did not err in granting summary judgment pursuant to Fed. R. Civ. P. 56 to the banks on the company's professional negligence claim.
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