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Attorneys obtained a defense verdict on behalf of a large in a binding commercial arbitration

Attorneys obtained a defense verdict on behalf of a large in a binding commercial arbitration.  Plaintiff brought suit pursuant to Restatement (Second) of Torts section 552, contending that the bank issued a false authorization code for purchases on a stolen credit card, which caused their fraud to sales ratio to to exceed its limits and cancellation of their ability to accept credit cards for payment.    Attorneys’ established that the authorization code was not issued by the bank, that the plaintiff was the victim of a fraud, and that plaintiff's claimed reliance on the authorization code was misplaced.

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