DC Bank Execs To Pay Atty Fees In Proxy Battle Feud

Law360, New York (January 22, 2010, 5:45 PM EST) -- Three former executives of Independence Federal Savings Bank will have to pay $600,000 in legal fees to two shareholders who sued them for misconduct related to a bitter proxy contest, after a federal judge found their answer to the complaint was full of false statements.

In a ruling handed down Wednesday in the U.S. District Court for the District of Columbia, Judge Rosemary M. Collyer found that IFSB Chair Carolyn D. Jordan, Vice-Chair David Wilmot and acting President and CEO Thomas L. Batties had lied at...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.