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Try CasePortal for Free[Modified.] The appeals court modifies several sentences in a false claims and lending case and denies a petition for rehearing with no change in judgment. The trial court should have allowed a false claim action to proceed against banks the state hired to manage the interest rates for variable rate demand obligations. The allegation that the banks did not fulfill their obligation to set rates as low as possible was supported with sufficiently particularized facts to clear the demurrer stage. The complaint cited a detailed analysis and bank employee corroboration to allege that the banks used a coordinated "Robo-Resetting" scheme to set rates without factoring in bond characteristics or market conditions. The state was allegedly harmed because it did not receive the paid-for services and it paid higher interest on the bonds. Reversed.