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Appellate Court upholds dismissal of investors' suit; denies sanctions to defendants

Walter E. Douglas, Sr., Theodore E. Martin and Derek A. Hurt sued Global Vision Communications, LLC, Kirkland Dudley, GVC Holdings, Inc., and GVC Networks, LLC, arguing that they committed silent fraud.  The Plaintiffs also alleged that Comerica Bank was guilty of negligence with regard to a "loan" the plaintiffs made to the named non-bank defendants.  The trial judge dismissed the bank "sua sponte" [on his own initiative and then granted summary disposition to the defendants with regard to the fraudulent misrepresentation claims.  The judge denied any sanctions, however, ruling that the claims were not frivolous.  All parties appealed, but the judgment was upheld.
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