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Securities and Exchange Commission v. BankAtlantic Bancorp, Inc. et al

  1. May 08, 2017

    Jury Clears BankAtlantic, CEO Of SEC Disclosure Claims

    After winning an appeal to force a second trial, BankAtlantic and CEO Alan Levan were cleared Monday by a federal jury of the U.S. Securities and Exchange Commission's claims that they committed disclosure and accounting violations by downplaying weaknesses in the Florida bank's commercial real estate portfolio.

  2. May 05, 2017

    SEC's Suit Against BankAtlantic, CEO Handed To Jurors

    In closing arguments Friday, counsel for BankAtlantic CEO Alan Levan called the U.S. Securities and Exchange Commission's allegations that he downplayed weaknesses in the Florida bank's commercial real estate portfolio "frivolous" and "morally reprehensible," but the agency told jurors the attacks were merely an attempt to distract.

  3. May 04, 2017

    SEC Grills BankAtlantic CEO In Disclosure Trial

    The U.S. Securities and Exchange Commission grilled BankAtlantic Bancorp Inc. CEO Alan Levan on the stand Thursday regarding a conference call in the early days of the financial crisis, arguing that he had information about downgrades of certain loans that he did not accurately disclose to investors.

  4. May 02, 2017

    BankAtlantic CEO Testifies In SEC's Suit Over Disclosures

    BankAtlantic Bancorp Inc. CEO Alan Levan took the stand Tuesday to defend himself against the U.S. Securities and Exchange Commission's allegations that he did not accurately disclose weaknesses in the bank's real estate portfolio in the early days of the financial crisis, telling jurors the bank accurately disclosed that certain loans could be problematic if the market turned.

  5. March 28, 2017

    SEC Takes 2nd Shot At BankAtlantic CEO In Disclosure Suit

    The U.S. Securities and Exchange Commission opened its second trial against BankAtlantic Bancorp Inc. CEO Alan Levan Tuesday, telling a Florida federal jury that he downplayed weaknesses in the bank's commercial real estate portfolio to the investing public in the early days of the financial crisis.

  6. March 16, 2017

    SEC's Case Against Ex-BankAtlantic CEO Cleared For Trial

    A Florida federal judge on Wednesday denied a slew of pretrial motions in the U.S. Securities and Exchange Commission's accounting fraud suit against BankAtlantic Bancorp Inc.'s former CEO Alan Levan, denying him summary judgment while also allowing him to present evidence at the upcoming trial that the SEC had tried to exclude.

  7. September 24, 2015

    Levan Must Leave BankAtlantic, Pay $1.3M For Fraud Case

    A Florida federal judge on Thursday ordered BankAtlantic Bancorp Inc. CEO Alan Levan to step down and pay $1.3 million in civil penalties, finding in favor of the authorities' claims he hid weaknesses in the bank's commercial real estate portfolio from investors.

  8. August 27, 2015

    Ex-BankAtlantic CEO Refused Retrial In SEC Fraud Suit

    A Florida federal judge on Thursday denied former BankAtlantic Bancorp Inc. CEO Alan Levan a retrial on the U.S. Securities and Exchange Commission's allegations he hid weaknesses in the bank's commercial real estate portfolio from investors.

  9. April 24, 2015

    Feds Slam Ex-BankAtlantic CEO's New Trial Bid

    Federal prosecutors on Thursday slammed former BankAtlantic Bancorp Inc. CEO Alan Levan's argument that a Florida district court should reconsider his case in light of the U.S. Supreme Court's Omnicare decision, saying the decision does not alter the legal landscape under which he was found to have misled investors.

  10. April 07, 2015

    Ex-BankAtlantic CEO Seeks New Fraud Trial Under Omnicare

    Former BankAtlantic Bancorp Inc. CEO Alan Levan asked a Florida federal court Monday to reconsider his case, arguing that the legal analysis used to support claims he mislead investors has since been upended by the Supreme Court's Omnicare decision, which set higher standards for proving a statement was false or misleading.

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