A Miami state court judge dismissed with prejudice a $30 million federal class action by U.S. Century Bank shareholders against current and former corporate directors, in litigation that pitted attorneys from two of the top law firms in South Florida.
Michael Hanzman, senior counsel at Bilzin Sumberg Baena Price & Axelrod, is among the attorneys who represent the defendants, the current and former corporate directors. They were accused of a breach of fiduciary duty to enrich themselves and the “out-of-state people” at the private equity funds they represent that hold the financial institution’s preferred stock at the expense of the community they serve.
![Michael Hanzman, senior counsel at Bilzin Sumberg in Miami.](https://images.law.com/contrib/content/uploads/sites/392/2023/12/michael-hanzman-Vert-202312291033.jpg)
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]