First Community Bank, N.A. v. First Tennessee Bank, N.A., et al.

This is the third iteration of this action in this court concerning Plaintiff’s claims against Defendant for fraud, constructive fraud, negligent misrepresentation, civil conspiracy, unjust enrichment, and violation of the Tennessee Securities Act, codified at Tennessee Code Annotated section 48-1-101, et seq. The claims arose out of the purchase of asset-backed securities that were later deemed unmarketable, causing a significant financial loss to Plaintiff. This particular appeal concerns the trial court’s granting of summary judgment in favor of Defendant based upon the applicable statute of limitations. We now affirm.