BOFI Court Cases

There has been some rulings in BOFI court cases.

–Court granted BOFI’s motion to dismiss Counts 1 & 2 of Erhart’s complaint with leave to amend.

–Court dismissed all the state law claims by declining to exercise supplemental jurisdiction.

-Court consolidated both cases into one proceeding. Now all filings will be in the BOFI v. Erhart case.

My understanding is counts 1 and 2 of Erhart’s case have been dismissed, but the “leave to amend” part means he can refile under different statutes or regulations. I guess this is common wording when dismissing court cases.
Also, again my limited understanding, he would need to refile to have any of the complaints heard in state courts.
Finally, seems everything has been lumped together into case of BOFI v. Erhart moving forward.

Note that this is just for the Erhart case, not the class action case.

While not an “all clear” for BOFI, I definitely view it as good news and it SURE beats the alternative.

I’m sure someone more well versed in law and legal procedings can give us a better picture of what this all means.



Odd that this hasn’t affected the share price.

I’m still going to go with Plan B - find the best-run smaller/regional bank, maybe go with Saul’s recommendation of SBNY. Definitely not CITI or WFC!