FDIC files more D&O suits: What it means for GCs
In 2014, lawsuits by the Federal Deposit Insurance Corporation (FDIC) that named the directors and officers of failed financial institutions greatly exceeded the annual totals of the previous three years.
April 22, 2014 at 08:00 PM
4 minute read
In 2014, lawsuits by the Federal Deposit Insurance Corporation (FDIC) that named the directors and officers of failed financial institutions greatly exceeded the annual totals of the previous three years.
There were 40 D&O suits in 2013, compared to annual totals of 26 in 2012, 16 in 2011, and two in 2010, according to a recent study by Cornerstone Research titled “Characteristics of FDIC Lawsuits against Directors and Officers of Failed Financial Institutions—February 2014.”
The pace of D&O litigation fell off in the fourth quarter, but that seems temporary. Cornerstone SVP Katie Galley advises that three suits were filed in January 2014 and states that the result of legal strategies on both sides will determine “whether we see protracted litigation…or movement to settle cases earlier.”
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 5First Lawsuit Filed Alleging Contraceptive Depo-Provera Caused Brain Tumor
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250