Umpqua Bank Fraud-Assist Suit Ends With Hung Jury, Mistrial (2)

A San Jose federal court jury reached an impasse on whether Umpqua Bank should be liable to victims of a Ponzi-like $300 million real estate scheme, forcing the judge to declare a mistrial.

“We thank the jury for its service and will seek dismissal of this matter from the court on our pending post-trial motions,” the bank said in a statement emailed Tuesday to Bloomberg Law.

The US District Court for the Northern District of California has tentatively set April 28 as the start date for the retrial, according to Amy Zeman of the Gibbs Law Group LLP, who represented ...