BC-FBN--McFadden-Investment Lawsuit,1st Ld-Writethru
LITTLE ROCK, Ark. (AP) — A judge has denied a bank’s request to be dismissed from a lawsuit filed by former NFL player Darren McFadden.
The Arkansas Democrat-Gazette reports that McFadden added Simmons Bank as a defendant in his 2016 lawsuit against his former financial adviser, Michael Vick.
The lawsuit alleges Vick defrauded him of about $15 million while McFadden was beginning his football career. The former Arkansas football standout played for the Oakland Raiders and the Dallas Cowboys.
The lawsuit alleges Metropolitan National Bank facilitated the theft by not using reasonable oversight procedures on McFadden’s accounts.
The bank asked to be removed from the case, arguing that McFadden made Vick a signatory on his account. But a federal judge denied the request Thursday, citing federal rules requiring that judges allow plausible claims to proceed.
Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com