NetBank Execs Seek Ruling On Investors' Hedge Claims

Law360, New York (March 28, 2011, 1:44 PM EDT) -- Former NetBank Inc. executives and directors asked a Georgia federal court for judgment Friday on class allegations that they improperly used hedge accounting to mislead investors about the online bank's health before its takeover by federal regulators and subsequent liquidation.

The defendants asked for partial summary judgment in the U.S. District Court for the Northern District of Georgia, seeking to trim the suit ahead of its expert discovery period by obtaining a ruling on claims that NetBank's derivatives accounting was false and misleading and that it...
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