Clik here to view.
Corporate Officers Held Not Entitled to Business Judgment Rule Protection...
A federal court has denied the motion of former IndyMac CEO Matthew Perry to dismiss the action that the FDIC, as the failed bank’s receiver, had filed against him. In a December 13, 2011 order (here),...
View ArticleClik here to view.
“No Judge Has Ever Said ‘Boy, Can That Guy Turn a Phrase'”
Recent sharply-worded accusations that the FDIC had failed to preserve documents attracted quite a bit of media attention. For example, a January 27, 2012 Wall Street Journal article reported the...
View ArticleClik here to view.
D&O Insurance: Subsequent IndyMac Bank Claims Interrelated with Prior Suit,...
One of the perennial D&O insurance coverage questions is whether or not subsequent claims are “interrelated” with a prior claim and therefore deemed first made at the time of the prior claim. This...
View ArticleClik here to view.
IndyMac CEO Settles Long-Running Subprime-Related Securities Suit
When plaintiffs first filed their securities class action lawsuit against IndyMac Bancorp back in March 2007, the suit was one of the first of what later became a wave of subprime and credit...
View ArticleClik here to view.
FDIC’s Failed Bank Lawsuit against Former IndyMac Officers Goes to Trial
Trial in the FDIC’s failed bank lawsuit against three former officers of IndyBank commenced on November 6, 2012 in the federal court in Los Angeles. According Scott Reckard’s November 9, 2012 Los...
View ArticleClik here to view.
FDIC Wins $168.8 Million Jury Verdict Against Former IndyMac Officers
On December 7, 2012, in a comprehensive victory for the FDIC in its capacity as receiver of the failed IndyMac bank, a jury in the Central District of California entered a verdict of $168.8 million in...
View ArticleClik here to view.
IndyMac CEO Settles FDIC’s Failed Bank Suit
IndyMac CEO Michael Perry has reached an agreement with the FDIC to settle the lawsuit the agency filed against him in the Central District of California in July 2011 in its capacity as receiver of the...
View ArticleClik here to view.
More About Stories We’re Following
IndyMac Coverage Suit Settled, But Oral Argument Will Stay on the Calendar?: As I noted in a recent post (here, second item), the parties in the IndyMac D&O insurance coverage action – that is, the...
View ArticleClik here to view.
Supreme Court Will Not Consider the Securities Act Statute of Repose Issue in...
As I had noted on this blog (here), one of the important securities law cases on the U.S. Supreme Court’s docket for the upcoming term involved the failed IndyMac bank. The Court had granted cert in...
View ArticleClik here to view.
Guest Post: Second Circuit Expands the IndyMac Rule
One of the important and recurring issues under the federal securities laws is the question of whether or not American Pipe tolling applies to the statute of repose in the securities laws’ liability...
View Article