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Siding with Investors, Del. Judge Blocks BankAtlantic Sale to BB&T
On Monday, Delaware Chancery Court Vice Chancellor J. Travis Laster permanently enjoined BankAtlantic Bancorp from closing on a planned sale of $2.1 billion in loans and $3.3 billion in deposits to BB&T. A group of indentured trustees and investors holding trust-preferred securities had sued to prevent the sale, claiming it would allow BB&T to "cherry-pick" BankAtlantic's assets and leave the bank holding only troubled and foreclosed loans. Laster concluded that the deal would breach BankAtlantic's contracts with the investors and cause the bank to default on its obligations.Judge tosses verdict against BankAtlantic Bancorp
U.S. District Judge Ursula Ungaro said the verdict against BankAtlantic Bancorp was inconsistent because the jury found statements by BankAtlantic Bancorp CEO Alan Levan were made in good faith.Rothstein says Gibraltar Bank execs liable for $64 million in Ponzi scheme
Imprisoned attorney Scott Rothstein claims Gibraltar Private Bank & Trust helped him out with his $1.2 billion settlement financing scam.Closing arguments under way in BankAtlantic shareholder class action trial
Shareholders claim company executives kept investors in the dark about the bank's faltering commercial real estate loan portfolio in 2007. The trial is only the 12th since Congress in 1995 clamped down on shareholder lawsuits in 1995 with the Private Securities Litigation Reform Act.NY Firm, Co-Counsel Sanctioned, Final Bill Could Reach $10 Million
TD Bank settlement doesn't prevent trial
TD Bank reached an undisclosed settlement with investors in Razorback Funding, leaving only Gibraltar Private Bank & Trust to face trial in Broward Circuit Court. That trial is scheduled to start Thursday after the bankruptcy judge refused an injunction to stop it.Judge tosses verdict against BankAtlantic Bancorp
U.S. District Judge Ursula Ungaro said the verdict against BankAtlantic Bancorp was inconsistent because the jury found statements by BankAtlantic Bancorp CEO Alan Levan were made in good faith.Plaintiffs Celebrate Ruling In Concordia Shipwreck
The U.S. Court of Appeals for the Eleventh Circuit said lawsuits filed by passengers who survived the Costa Concordia shipwreck belong in state court.Judge orders sanctions against counsel in BankAtlantic suit
U.S. District Judge Ursula Ungaro in Miami overturned the verdict that favored the plaintiffs in April and has ordered sanctions against New York's Labaton Sucharow and Kessler Topaz Meltzer & Check of Radnor, Pennsylvania.Second Time's the Charm for Gas Dealers Suing Exxon
A Miami jury awarded gas station dealers $500 million in the second trial of a breach-of-contract class action against Exxon. The first trial, in 1999, ended in a mistrial because the jury did not reach a unanimous decision. But plaintiffs' attorneys in the second trial -- with the same facts and circumstances -- were better able to convince the jury by turning to a more visual presentation of the case.Trending Stories
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