6th Circ. Affirms D&O Ban For Ex-MCA Financial CEO

Law360, New York (April 21, 2010, 6:05 PM EDT) -- A federal appeals court has affirmed a lower court ruling barring the former CEO of fallen Detroit-area mortgage firm MCA Financial Corp. from acting as a director or officer following his criminal conviction for securities law violations and accounting fraud that left 900 MCA employees jobless and cost 2,700 investors more than $256 million.

A three-judge panel of the U.S. Court of Appeals for the Sixth Circuit ruled Wednesday that U.S. District Judge Marianne O. Battani of the Eastern District of Michigan did not err in...
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