NEW ORLEANS--(BUSINESS WIRE)--FSCM Bank (First Southern Capital Development Corporation) has filed a multi-million dollar civil action against the Sheet Metal Workers Pension Plan of Southern California, Arizona and Nevada, the Sheet Metal Benefit Plans Administrative Corporation, their respective Boards and certain named management personnel, alleging breach of contract, interference and negligence in connection with FSCM Bank’s Milestone Mortgage division’s tenancy at the Manhattan Plaza Office Building, Manhattan Beach, California, owned and operated by Sheet Metal Workers Pension Plan and Sheet Metal Benefit Plan Administrative Corporation.
The civil action, announced today by Konstantine Dimakis, Chairman of FSCM Bank, also requests a jury trial and was filed in California Superior Court, County of Los Angeles, at the Torrance Courthouse on September 15, 2011. Among numerous causes of action, the verified complaint alleges breach of contract, negligence, breach of good faith and fair dealing, civil conspiracy, negligent interference and intentional interference arising from the blatant and negligent disregard and contempt by Sheet Metal Workers Pension Plan of FSCM Bank’s rights, under contract and under law, and the damages and harm suffered by FSCM Bank from the actions and omissions of Sheet Metal Workers Pension Plan and their agents.
Mr. Dimakis further announced that, in order to keep FSCM’s stakeholders fully and better informed of the subject action, FSCM shall be launching, within the few weeks, an independent specialty website containing the verified complaint and all relevant documents concerning the subject action.
About FSCM Bank
Headquartered in Louisiana, FSCM Bank is a diversified financial institution offering a comprehensive range of financial products and services and a premier provider of custom-tailored financial and mortgage banking solutions to its clients, whether nationally and/or internationally. FSCM Bank’s services are primarily focused on providing and expanding the broad and competitive range of products and options aimed at meeting the financial needs of their ever-growing customer base throughout the United States.
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