The FDIC as receiver of the failed Haven Trust Bank may
not intervene in a securities lawsuit brought by the aggrieved investors of the
Bank's holding company, according to Northern District of Georgia Judge Charles A. Pannell,
Jr.'s December 29, 2010 order in the case. Judge Pannell's...
On January 14, 2011, in a ruling that could have
implications for other failed bank investors' securities class action lawsuits,
Northern District of Georgia Judge Charles A. Pannell,
Jr . granted defendants' motions to dismiss the securities suit that had
been brought by investors in the...
If the lawsuit filed on February 7, 2011 in the Northern
District of Georgia is any indication, the FDIC's efforts to pursue liability
claims will not only include suits against the directors and officers of failed
banks, but will also include in at least some instances the failed
Though 2010 was a "turnaround" year for banks,
the number of problem institutions continued to increase during the year,
according to the FDIC's Quarterly Banking Profile for the fourth quarter of
2010. A copy of the FDIC's February 23, 2011 press release about the report can
On October 5, 2012, in the latest in a series of decisions addressing the question whether or not corporate officers (as differentiated from corporate directors) are entitled under California law to rely on the protections of the business judgment rule, Central District of California Judge Dale Fischer...