Opinion
Case No. 10-CV-12210.
October 7, 2010
ORDER GRANTING DEFENDANTS' MOTION FOR SUMMARY JUDGMENT
On June 4, 2010, Plaintiffs filed a complaint asserting the following claims relating to loans originating from, or serviced by, Defendants: violations of the Truth-in-Lending Act, the Real Estate Settlement Procedures Act, and the Federal Trade Commission Act; breach of contract; breach of fiduciary duty/joint venture; fraudulent inducement; fraud; and misrepresentation. On September 2, 2010, Defendants LNV Corporation and CLMG Corp. filed a motion for summary judgment on Plaintiffs' claims. The deadline for responding to the motion has passed, and no response was filed. Because the loans at issue are commercial loans, the claim asserted pursuant to the Federal Trade Commission Act is not permitted by that statute, and the various state claims are barred by the parties' fully integrated agreements and "no oral modification" clause, Defendants LNV Corporation and CLMG Corp. are entitled to summary judgment and Plaintiffs' claims against Defendants LNV Corporation and CLMG Corp. as set forth their Complaint filed herein are dismissed.
SO ORDERED.
Dated: October 7, 2010