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Bret Lawrence, et al v. Mitchel H. Caplan

January 19, 2011

BRET LAWRENCE, ET AL.,
PLAINTIFFS,
v.
MITCHEL H. CAPLAN, ET AL.,
DEFENDANTS.



The opinion of the court was delivered by: Howard R. Lloyd United States Magistrate Judge

** E-filed January 19, 2011 **

NOT FOR CITATION

United States District Court For the Northern District of California

[Re: Docket No. 19]

ORDER GRANTING DEFENDANTS' MOTION TO DISMISS PLAINTIFFS' FIRST AMENDED COMPLAINT

BACKGROUND

Plaintiffs Bret and Kimberly Lawrence ("Plaintiffs") bring this action against defendants E*Trade Wholesale Lending Corporation ("E*Trade") and Mitchel H. Caplan ("Caplan") (collectively, "Defendants"). Caplan is the president and CEO of E*Trade Financial, the parent 20 company of E*Trade Wholesale Lending Corporation.

This case involves an interest-only adjustable rate mortgage loan between Plaintiffs and E*Trade that is secured by Plaintiffs' residential property in San Ramon, California. Plaintiffs 23 essentially allege that they entered into this loan as a result of Defendants' abusive lending tactics.

They allege claims for violations of the civil Racketeer Influenced and Corrupt Organizations Act ("RICO"), 18 U.S.C. §§ 1961-1968; the Truth in Lending Act ("TILA"), 15 U.S.C. §§ 1601, et seq.;

California Business and Professions Code § 17200; California Business and Professions Code § 17500; and for breach of the implied covenant of good faith and fair dealing. Docket No. 13 ("First 28 Amended Complaint" or "FAC").

Rather than respond to Defendants' motion, Plaintiffs filed an amended complaint. See FAC.

Defendants previously moved to dismiss Plaintiffs' original complaint. Docket No. 11.

Defendants now move to dismiss the FAC. Docket No. 19. Plaintiffs did not file any opposition 4 brief or notice of non-opposition, and neither they nor their counsel ...


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