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FIRST NAT. BANK v. MILLER SCHROEDER

No. A05-705.

709 N.W.2d 295 (2006)

FIRST NATIONAL BANK OF the NORTH, et al., Appellants, v. MILLER SCHROEDER FINANCIAL, INC., et al., Defendants, State of Minnesota, Respondent.

Court of Appeals of Minnesota.

January 31, 2006.

Attorney(s) appearing for the Case

Vernon J. Vander Weide, Thomas V. Seifert, Head, Seifert & Vander Weide, Minneapolis, MN; and John A. Cochrane, Cochrane & Bresnahan, P.A., St. Paul, MN, for appellants.

Mike Hatch, Attorney General, Gary R. Cunningham, Assistant Attorney General, St. Paul, MN, for respondent.

Considered and decided by HALBROOKS, Presiding Judge; KLAPHAKE, Judge; and WRIGHT, Judge.

OPINION

WRIGHT, Judge.

Appellants sued the State of Minnesota for damages based on tort liability and the Minnesota Consumer Fraud Act, alleging that the state improperly registered certain debt securities. The district court dismissed appellants' suit for failure to state a claim on which relief can be granted. We affirm.

FACTS

On November 14, 1997, the Minnesota Department of Commerce (the department) issued a notice of registration by...

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