On August 16th, the Eighth Circuit affirmed the entry of summary judgment dismissing real estate investors' claims that the bank financing a real estate development project fraudulently concealed certain details concerning the financing. The Eighth Circuit held that the bank did not owe a special duty to the investors requiring disclosures. Although the offering memorandum said that the bank was the escrow agent, there was no evidence that the bank was the escrow agent or knew that the offering memorandum named it the escrow agent. Badger Capital, LLC v. Chambers Bank of North Arkansas.