SEC's Partial Win Stands In BankAtlantic Fraud Suit
By Beth Winegarner
Law360, San Francisco (January 30, 2014, 2:37 PM ET) -- A Florida federal judge on Thursday refused to reconsider the U.S. Securities and Exchange Commission’s partial win in its accounting-fraud case accusing BankAtlantic Bancorp Inc. of hiding weaknesses in its commercial real estate portfolio, agreeing that BankAtlantic failed to disclose key problems to its investors.
U.S. District Judge Robert Scola said that he would not take another look at his decision granting summary judgment to the SEC on a claim related to BankAtlantic’s allegedly fraudulent disclosures and accounting. Not only did BankAtlantic’s argument for reconsideration not meet...