Federal Judge: Suit Against Bank Executives Can Proceed

Federal Judge: Suit Against Bank Executives Can Proceed

LOS ANGELES - A federal judge in California on July 8 declined to dismiss the Federal Deposit Insurance Corp.'s suit alleging that former directors and officers of First Bank of Beverly Hills (FBBH) are liable for $100.6 million in losses incurred on nine loans, agreeing with the FDIC that the FDIC has pleaded specific facts as to each individual defendant and their involvement in the approval of each loan (Federal Deposit Insurance Co. v. Larry B. Faigin, et al., No. 12-3448, C.D. Calif.; 2013 U.S. Dist. LEXIS 94899).

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