In the a paying attention, the fresh new courtroom suffered Countrywide Financial’s demurrer in place of leave so you’re able to amend

Especially, Countrywide Financial contended this new Bank’s point 25504 allege are an identical cause of step as its Part fifteen allege in no. 1 rights’ principle. Based on Nationwide Monetary, the bank sought to hang they accountable on the Borrowing Suisse action as a handling people to own alleged misrepresentations during the [domestic mortgage-supported securities] offering records along with the new declaratory save step, the lending company aims to hang [Nationwide Economic] liable while the a control individual for the same alleged misrepresentations about same ? offering data. Countrywide Financial conceded new judge ideas in the two cases was basically different, however, debated the bank alleged a citation of the same first right-the asserted to offering files without point Thorsby pay day loans misrepresentations; and you may, furthermore, claims both in actions getting suffered the same damage once the a direct result [Countrywide’s Financial’s] alleged misconduct.

Nationwide Monetary demurred toward operative revised declaratory recovery issue, fighting res judicata banned the latest Bank’s point 25504 allege since Lender is actually impermissibly trying relitigate a cause of step which was disregarded that have bias during the an earlier action between the same activities

Likewise, the bank debated there can be zero finally judgment towards deserves from the Borrowing from the bank Suisse step since the its claims on each securitization under consideration in Borrowing from the bank Suisse was in fact element of just one reason for step having reason for res judicata. Because Bank explained, almost all of the Bank’s claims toward those individuals securities throughout the Borrowing Suisse action continue to be pending. Thus, we have witnessed no finally view on deserves of Bank’s whole cause of step into the all five bonds regarding Borrowing Suisse action which can be in addition to the subject regarding this[.] 5

Within the opposition, the financial institution contended the new point 25504 allege it asserted about declaratory rescue step is not the same as this new claims one to [it] voluntarily disregarded from inside the Borrowing Suisse which res judicata don’t pub it regarding saying different claims significantly less than a different sort of statute

The newest judge observed, [t]the guy genuine concern the following is whether or not what was ignored is the same first proper as to what is claimed right here [regarding declaratory save action]. Then court responded the question in the affirmative. It said, new Ties Act and you may areas 25401 and you will 25501 give manage people in charge in exact same things ? without any significant difference in federal program or perhaps the county scheme? In addition to Ca law is not materially different from the latest government statute. The newest court proceeded, a standard layout from inside the preclusive effect jurisprudence is the fact that the [c]ourt isnt bound by the newest style, or even the pleadings, and/or articulation regarding reasons for step. Quite simply ? you do not evaluate factors behind step ? or areas of trigger[s] of action. You are able to one’s heart of what is taking place. Therefore generally seems to myself your heart of what actually is happening, using this angle ? try control people liability. One to less than a federal statute and one below a state law. With no matter the method that you beg they or exactly what the succession is, ? that it’s an identical in the two cases.

We opinion de novo the fresh new court’s buy preserving Countrywide’s demurrer versus exit to amend. (Estate from Dito (2011) 198 Cal.Software.4th 791, 800 (Dito ).) I basic remark the new criticism de novo to decide when it include facts enough to state a factor in step lower than any court theory. [Ticket.] I dump the demurrer as the admitting all the procedure facts securely pleaded, not contentions, deductions or findings of fact otherwise rules. [Citation.] I contemplate matters which might be judicially observed.’ [Solution.] ‘ [Admission.] I affirm or no surface offered in service of one’s demurrer try well-taken however, select error when your plaintiff states a cause of action under any possible court theory. [Citations.] We are not bound by the fresh new demo court’s stated causes, if any, supporting the governing; i review the newest ruling, perhaps not the rationale. [Ticket.]’ [Solution.] (Id. within p. 800.)