$55 Million Settlement Approved in Umpqua Bank Lawsuit

On Thursday, September 11, 2025, a United States District Court granted final approval of a $55 million class action lawsuit against Umpqua Bank to settle claims that it aided and abetted Professional Financial Investors’ (PFI’s) fraudulent scheme. In granting final approval, Judge P. Casey Pitt noted that the result for the class members was “excellent.” 

About the Umpqua Bank PFI Class Action Lawsuit 

The lawsuit, filed in 2020 by Gibbs Mura and co-counsel Silver Law Group, is a class action on behalf of over 1,200 PFI investors. Plaintiffs argued that PFI ran a fraudulent scheme that used investor money to personally benefit PFI’s executives, pay other investors, and cover recurring shortages across its dozens of accounts at Umpqua. Additionally, Plaintiffs alleged that Umpqua Bank knew of the fraudulent scheme yet continued to provide banking services to PFI anyway. 

After nearly five years of litigation, the case culminated in a four-week jury trial in February 2025. However, the jury could not come to a unanimous decision, and the court declared a mistrial on March 4, 2025. The parties agreed to the $55 million settlement shortly after that. 

About Gibbs Mura

Gibbs Mura is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”