Litigation

Recent Posts

Jury Enters $168.8 Million Verdict Against Former IndyMac Executives
Posted on 10 Dec 2012 by Michael J. Lello

LOS ANGELES - (Mealey's) A jury in a California federal court on Dec. 7 entered a $168.8 million verdict against three former officers of the failed IndyMac Bank F.S.B., finding that the individuals had been negligent and breached their fiduciary... Read More

Former IndyMac CEO Agrees To $12 Million Settlement With FDIC
Posted on 17 Dec 2012 by Michael J. Lello

LOS ANGELES - (Mealey's) Former IndyMac FSB CEO Michael Perry on Dec. 14 agreed to a $12 million settlement to resolve the Federal Deposit Insurance Corp.'s $600 million suit over his alleged role in the bank's failure, according to a stipulation... Read More

FDIC: 'Close' To Settlement In Lawsuit Against WaMu Execs
Posted on 22 Jun 2011 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Federal bank regulators say they are close to settling their civil lawsuit against three former top executives of Washington Mutual accused of negligence in allowing risky mortgage lending at the biggest U.S. bank ever to fail... Read More

FDIC Sues 4 Former IndyMac Executives
Posted on 15 Jul 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Bank regulators have accused four former executives of failed IndyMac Bank of negligence in making loans to homebuilders and are seeking a total $300 million in damages. The Federal Deposit Insurance Corp., which took over California... Read More

Lawsuit Wave Could Hurt Housing Market: FDIC Chief
Posted on 26 Oct 2010 by LexisNexis Litigation Resource Community Staff

ARLINGTON, Va. - (AP) A wave of lawsuits from troubled borrowers who lost their homes to foreclosure could hurt the already-ailing housing market, a top banking regulator said Monday. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said... Read More

FDIC Sues 3 Former Top Executives Of Failed WaMu
Posted on 18 Mar 2011 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Federal bank regulators have sued three former top executives of Washington Mutual, the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending. The Federal Deposit Insurance Corp. filed the... Read More

WaMu Bank Bondholders Settle For $335 Million
Posted on 7 Oct 2010 by LexisNexis Litigation Resource Community Staff

SEATTLE - (AP) A group of Washington Mutual creditors have signed on to a settlement that pushes the bank's reorganization plan a step closer to approval. Washington Mutual Bank bondholders agreed to a $335 million settlement, according to an amended... Read More