bank failures

406 Bank Failures Since 2008 – Lessons for the Survivors

By Jonathan Joseph* Since the initial crush of the financial crisis in the summer of 2008, 406 banks have failed. As of October 24, 2011, the FDIC has authorized suits in connection with 34 failed institutions and 308 officers and directors for D&O liability of at least $7.3 billion. The current cycle of litigation initiated …

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Claims Against Failed Bank D&O’s Will Spike in 2012

By Jonathan Joseph* The total number of bank failures since the banking crisis began in 2008 is now dangerously close to 400. To date, the FDIC has only filed 14 lawsuits against failed bank directors and officers from thirteen different failed banks.  A total of 103 former bank directors and officers have been named in …

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