Choose Palms Banker Two Victories in Go well with vs. Previous Organization Associate

Share this short article: A longtime Southland banker who alleges he was defamed by a…


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A longtime Southland banker who alleges he was defamed by a former small business associate who mentioned the plaintiff exploited both of those his Jewish heritage and his own tragedies can commence with his lawsuit, a choose dominated Tuesday in denying two individual protection problems to the criticism.

Los Angeles Superior Court docket Judge Richard Burdge Jr. issued the selections in favor of David Rainer, the present executive chairman of the board of administrators for Southern California Bancorp, the keeping organization for the Financial institution of Southern California. Rainer introduced the accommodate on Dec. 23 versus Matthew Wagner, president, CEO and director of PacWest Bancorp, alleging defamation and intentional interference with possible economic advantage.

Wagner’s attorneys maintained his comments have been shielded speech and that the bring about of action for intentional interference with possible economic gain was obscure for the reason that Rainer does not allege any true small business relationships exist with the chance of future financial benefit.

The choose disagreed with the defense’s no cost-speech argument.

“The courtroom finds that (Wagner) has not satisfied his load … of demonstrating that the complaint’s statements crop up from shielded (speech),” the decide wrote. “Wagner’s testimony exhibits he was intrigued in safeguarding his own lender from shedding staff members and customers…”

The judge also turned down the defense’s placement about intentional interference with potential financial edge.

Rainer’s accommodate describes him as a “giant in the Southern California banking community” for a lot more than 4 decades. Early in his banking vocation, Rainer served as president and CEO of Encino-based mostly California United Lender, which was bought to the Bank of Hawaii for $183 million in 1998, in accordance to his court papers.

The following yr, Western Bancorp sent a tiny staff, led by Wagner, to recruit Rainer, the fit states. The choosing attempts were being lengthy and so arduous that Wagner joked that most courtships for marriage were more rapidly and much less unpleasant, in accordance to the plaintiff.

Rainer agreed to join Western Bancorp and in 2001, the company was offered to U.S. Bancorp, following which he served as govt vice president and head of business banking for the western United States, the fit states.

In 2004, Rainer states he was “hit with a staggering amount of money of own tragedy and heartbreak” in which he dropped three immediate relatives associates in just a limited time, foremost him to resign from U.S. Bancorp “to approach his grief and just take a transient action again from his career.”

Rainer, immediately after beginning a further lender that became the matter of acquisition talks with PacWest, afterwards entered into a three-12 months, non-competing consulting agreement with PacWest and Wagner spanning the period of time from Oct. 20, 2017, to Oct. 20, 2020, the accommodate states.


Right after satisfying his obligations beneath the PacWest consulting settlement, Rainer attended a assembly with other banking executives to go over a doable potential opportunity with the Financial institution of Southern California, in accordance to his courtroom papers.

Wagner “evidently caught wind of Mr. Rainer’s thing to consider of pursuing a foreseeable future employment prospect with the Lender of Southern California” and “has because embarked on a campaign to sully and disparage Mr. Rainer,” the suit alleges.

Wagner falsely told a single banking govt that Rainer was fired from his position at Western Bancorp and that the plaintiff “had a sample of exploiting own tragedies, like the loss of his quick spouse and children customers to evade his skilled responsibilities and obligations and manipulate his businesses,” according to the accommodate.

Wagner also reported Rainer had a heritage of “illegally poaching employees” and that the plaintiff “had a pattern of deceptively working with his Jewish id to fabricate rapport and pander to these in his specialist network,” the match alleges.

In accordance to his courtroom papers, Rainer has questioned Wagner to retract the “false and outrageous statements,” but the defendant “refused to retract any of his statements and evidently proceeds to stand by them to this day,” allegedly hampering Rainer’s efforts to recognize new traders and increase capital for the Financial institution of Southern California.

Judge Fingers Banker Two Victories in Suit vs. Previous Small business Associate was very last modified: June 22nd, 2021 by Contributing Editor

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