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UNIVERSAL CITY STUDIOS CREDIT UNION v. CUMIS INS. SOCIETY, INC.

No. B226868.

208 Cal.App.4th 730 (2012)

145 Cal. Rptr. 3d 650

UNIVERSAL CITY STUDIOS CREDIT UNION, Plaintiff and Appellant, v. CUMIS INSURANCE SOCIETY, INC., Defendant and Respondent.

Court of Appeals of California, Second District, Division One.

July 31, 2012.

Attorney(s) appearing for the Case

Shernoff Bidart Echeverria, William M. Shernoff, Evangeline F. Grossman, Joel A. Cohen and Travis M. Corby for Plaintiff and Appellant.

Sedgwick, Michael R. Davisson, Douglas J. Collodel and Valerie D. Rojas for Defendant and Respondent.

OPINION

MALLANO, P. J. —

Plaintiff, a credit union, processed a fraudulent wire transfer request, sustaining a loss of around $243,700, and sought to recover its loss under a credit union bond issued by defendant, which declined to pay. The credit union filed this action, seeking to recover under the bond for its monetary loss and requesting an award of punitive damages.

The trial court granted summary judgment in favor of defendant...

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