Camenisch v. Umpqua Bank

If you lost money investing with PFI or PISF, a class action lawsuit may affect your rights.

Investors sued Umpqua Bank, alleging the bank aided and abetted PFI’s fraudulent scheme. The Court did not decide in favor of Plaintiffs or Umpqua Bank. The Court held a jury trial in this case in February 2025, which did not result in a win for either side because the jury could not reach a verdict. After that, the Court scheduled a second trial that would be in front of a new jury.

Instead of moving forward with the second trial, Plaintiffs and Umpqua agreed to a settlement. If the Court approves the settlement, Umpqua will pay $55 million, and, in exchange, Plaintiffs and the other Class Members will release (give up) the right to file a separate lawsuit against Umpqua Bank for any claims that were asserted or could have been asserted in this lawsuit.

The full terms are available in the Settlement Agreement.