We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Bank Of Internet Execs Beat Suit Over Whistleblower Probe

Law360 (May 24, 2019, 7:50 PM EDT) -- A California federal judge tossed a shareholder's derivative suit accusing Bank of Internet executives of misconduct that led to a costly internal investigation into a whistleblower's allegations of shady business dealings, ruling Thursday that the investor failed to show that the directors were culpable.

U.S. District Judge Gonzalo P. Curiel rejected investor Andrew Calcaterra's arguments that confronting the board of directors before filing suit, as federal rules require, would have been fruitless because the majority of the board was hostile, members were likely liable for breaching their duties and their compensation suggested their judgment would not be independent, among other assertions....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

California Southern

Nature of Suit

Stockholders Suits

Judge

Subscribers Only

Date Filed

December 3, 2015

Law Firms

Companies

Government Agencies

Judge Analytics