Ex-IndyMac CEO Gets Chance To Appeal $600M FDIC Case

Law360, New York (February 23, 2012, 6:32 PM EST) -- Former IndyMac Bank FSB CEO Michael Perry will have the chance to eliminate federal regulators' $600 million negligence suit stemming from the bank's failure after a California federal judge certified his interlocutory appeal of the denial of his motion to dismiss the case.

U.S. District Judge Otis D. Wright II said there was a meaningful difference of opinion over whether the business judgment rule prevented the Federal Deposit Insurance Corp. from pursuing negligence claims related to IndyMac's issuance of more than $10 billion in risky residential...
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Case Information

Case Title

Federal Deposit Insurance Corporation v. Michael Perry


Case Number

2:11-cv-05561

Court

California Central

Nature of Suit

Banks and Banking

Judge

Otis D. Wright, II

Date Filed

July 6, 2011

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