Bank of America Wins Appeal: The California...
Bank of America Wins Appeal: The California Court of Appeal overturned a $50-million liability judgment against Bank of America in a 1986 case that pitted a Robbins, Calif., tomato farmer against the San Francisco financial institution. Robert Stanghellini sued the bank, charging that Bank of America encouraged him to borrow money in ever-increasing sums, then refused to advance more money after several crop failures until his elderly mother and aunt pledged $800,000 as additional collateral. He was awarded $50 million. But the award was overturned, after the Court of Appeal ruled that Stanghellini failed to produce any evidence to support his allegations.
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