Failed Banks And Attorney Liability: A New Trend

Law360, New York (May 10, 2011, 1:21 PM EDT) -- The recent economic crisis has had a negative impact on many industries, including, notably, the banking industry. In 2010, there were 157 bank failures nationally. More failures are expected in the next two years. This is bad news for banks and for many of the lawyers that represented them.

In just the last few months, the FDIC has filed legal malpractice suits against some of the most respected law firms in the country. Demands have been made against many more with tolling agreements and settlements with...
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