Judge Consolidates Suits Over Colonial TARP Funding

Law360, New York (March 9, 2009, 12:00 AM EDT) -- A federal judge has consolidated four securities class actions alleging that Colonial BancGroup Inc. and its leaders made misleading statements about its participation in the Troubled Assets Relief Program.

In an order Friday, Judge Myron H. Thompson of the U.S. District Court for the Middle District of Alabama consolidated the four cases, following a request made by the bank earlier in March. The suits also name CEO and President Robert E. Lowder, Chief Financial Officer Sarah H. Moore and Chief Accounting Officer T. Brent Hicks....
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