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Sterne, Agee & Leach, Inc v. U.S. Bank National Association

148 So. 3d 1060 (2014)

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Sterne, Agee & Leach, Inc v. U.S. Bank National Association

Alabama Supreme Court
148 So. 3d 1060 (2014)

MP

Facts

U.S. Bank National Association and U.S. Bancorp (U.S. Bank) (defendants) sued Sterne, Agee & Leach, Inc. (Sterne) (plaintiffs) in a federal district court in Washington, alleging that Sterne and others violated Washington state security laws, and Sterne eventually won that case. Thereafter, Sterne sued U.S. Bank in Alabama for malicious prosecution, citing the earlier Washington case. Alabama and Washington followed different rules for malicious-prosecution claims. The parties agreed that Alabama’s choice-of-law rule—lex loci delicti—applied, but they disagreed about where the injury occurred. U.S. Bank filed a motion to dismiss and alleged that for malicious prosecution, the injury occurs in the state where the defense of the alleged malicious prosecution occurred. Sterne argued that because the injury in such a case is financial, it occurs where the financial harm is felt. When the trial court refused to grant U.S. Bank’s motion to dismiss, U.S. Bank moved the trial court to certify an order for a permissive interlocutory appeal. The trial court denied that motion too, and U.S. Bank sought a writ of mandamus ordering the trial court to apply Washington law and dismiss Sterne’s suit.

Rule of Law

Issue

Holding and Reasoning (Bolin, J.)

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