IndyMac Suit Against D&O Insurers, Directors Tossed

Law360, New York (September 8, 2011, 1:29 PM EDT) -- A California federal judge on Wednesday tossed the rest of IndyMac Bancorp Inc.'s case against several insurers and former directors, which sought coverage in underlying suits over its mortgage-backed securities, two weeks after dismissing the bulk of the claims as unripe.

U.S. District Judge R. Gary Klausner ruled that IndyMac failed to show why he shouldn't throw out the rest of the case. He said the bank can bring the suit again once the claims are ripe, after the underlying cases are resolved.

IndyMac, a bankrupt...
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Case Information

Case Title

In Re: Indymac Bancorp Inc


Case Number

2:11-cv-02950

Court

California Central

Nature of Suit

Bankruptcy Withdrawl

Judge

R. Gary Klausner

Date Filed

April 7, 2011

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