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



California Central

Nature of Suit

Banks and Banking


Otis D. Wright, II

Date Filed

July 6, 2011

Law Firms

Government Agencies

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