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FDIC Files Record Number of Lawsuits in 2012 – 2015 UPDATE
UPDATE 2: We in fact did see a significant decrease in O&D lawsuits in the past few years: [pullquote]“The FDIC will not bring civil suits against directors and officers who fulfill their responsibilities, including the duties of loyalty and care, and who make reasonable business judgments on a fully informed basis and after proper…
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Bank Directors and Officers targeted in 2011
The final numbers are in for 2011, and it was a record year for Director and Officer (D&O) lawsuits by the FDIC. In 2011 alone, 264 defendants were named in FDIC lawsuits. To put that in perspective, that’s more than twice the number sued in the previous 2 years combined. Some of the most frequently…
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FDIC Sues Bank Directors (again)
On June 19, 2009 Cooperative Bank in Wilmington, NC was closed by the North Carolina Commissioner of Banks and the FDIC. Federal banking regulators are now suing Cooperative Bank’s chairman and eight members of the board of directors for more than $145 million for negligence and breaches of fiduciary duty. One of the FDIC’s assertions…
