Greenberg, Trager & Herbst, LLP, Appellant v. Hsbc Bank USA, Respondents. (and a Third-Party Action.)

Summary

The Court of Appeals affirmed the Appellate Division’s summary‑judgment dismissal of Greenberg, Trager & Herbst’s claims against HSBC and Citibank, holding that neither bank owed a duty to the non‑customer law‑firm depositor under the UCC. Accordingly, the negligence, negligent misrepresentation, and equitable estoppel theories failed. Judge Pigott dissented in part, arguing that HSBC should be liable for negligent misrepresentation.