News & Analysis as of

The Bumpers Decision

Last fall, the North Carolina Supreme Court issued a major decision, Bumpers v. Community Bank of Northern Virginia, 747 S.E.2d 220 (N.C. 2013), that helps to define the elements of a claim under section 75-1.1. The court...more

Federal Court Dismisses FCA Claims Against Bank’s Outside Directors

On January 3, the U.S. District Court for the Northern District of Illinois held that a relator failed to support allegations that the outside directors of a failed bank misrepresented to the FDIC the quality of the bank’s...more

Structured Thoughts -- Volume 4, Issue 14 -- December 2, 2013

In This Issue: Launching an Exempt Structured Products Program in the United States: Issues for Non-U.S. Banks to Consider; “Big-Boy Letters” Revisited: Pharos Decision Upheld by the Sixth Circuit.; SEC Addresses...more

Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial

On February 6, Judge Rakoff of the Southern District of New York ruled in favor of monoline insurer Assured Guarantee Municipal Corp. against Flagstar Bank FSB after presiding over a bench trial seeking damages for breach of...more

New Precedent that Holds Banks Responsible?

The legal press is abuzz with reports of a New York federal judge’s award of a $90.1 million judgment to mortgage insurer Assured Guaranty Corp. after a lengthy trial in its suit against Flagstar Bank FSB....more

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