BankAtlantic Execs Dodge Shareholder Suit

Law360, New York (December 15, 2008, 12:00 AM EST) -- A federal judge has dismissed a shareholder class action against BankAtlantic Bancorp Inc. executives that accused them of issuing misleading financial statements and failing to disclose millions of dollars worth of bad loans.

Judge Ursula Ungaro of the U.S. District Court for the Southern District of Florida granted the defendants' motion to dismiss the case on Thursday, ruling that the plaintiffs, a class of those who had purchased stock in the company from Nov. 2005 to Oct. 2007, did not adequately prove that the bank’s board...
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