White Collar Watch - September 2013

Contents

- FDIC filing more suits against officers and directors of failed financial institutions

- Third Circuit upholds 12-year prison sentence for former BigLaw associate

- Health care executives should heed recent trend of significant prison sentences for Medicare fraud convictions.

- Excerpt from "FDIC filing more suits against officers and directors of failed financial institutions":

Banking industry executives should take note: this year the Federal Deposit Insurance Corporation has increased yet again the number of civil lawsuits it is filing against the directors and officers of financial institutions that failed during the recession. The rate at which the suits are being filed by the FDIC has been steadily increasing: two in 2010, 16 in 2011, 26 in 2012, and 32 in just the first eight months of 2013. The FDIC is bringing suit against officers and directors in their individual capacity, holding them personally liable for damages allegedly sustained by the financial institutions under their management or over-sight. Chief executives, inside directors, and outside directors were named defendants in more than three-quarters of the FDIC suits, but other officers including chief credit officers, chief financial officers, and chief operating officers were also named as defendants in some instances.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Saul Ewing LLP | Attorney Advertising

Written by:

more+
less-

Saul Ewing LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×