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A lawsuit against Capital One for allowing unauthorized withdrawals through ATM machines has been dismissed, as reported by the New York Law Journal in an article published on April 20th, 2012.
Royal Arcanum sought damages against Capital One and its ex-vice president, Herrnkind, for Capital One’s failure to have two officers sign off on each withdrawal. Capital One sought for summary judgment based on the grounds that Royal Arcanum never informed Capital One that two of their top officers were deceased or left the company.
Capital One’s motion was granted in its favor, finding that there were no monetary damages due to Royal Arcanum failure to inform.
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