FDIC Sues Baker Botts To Get Bank Fraud Docs

Law360, New York (August 6, 2009, 5:22 PM EDT) -- The Federal Deposit Insurance Corp. has hit Baker Botts LLP and Ernst & Young LLP with a lawsuit to force them to turn over materials related to an investigation into accounting fraud at a now-collapsed Texas bank.

The FDIC as receiver for Franklin Bank SSB filed suit Tuesday in the U.S. District Court for the Southern District of Texas to force the law firm and accounting giant to turn over documents — allegedly compiled at a cost of more than $2 million — that may expose...
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