US Bank Wants To Depose Ex-Peregrine CEO During Stay

Law360, New York (August 19, 2013, 4:22 PM EDT) -- U.S. Bank NA asked an Illinois federal judge on Friday to greenlight the deposition of the convicted fraudster and former CEO of bankrupt Peregrine Financial Group Inc., arguing that plaintiffs in a stayed putative class action against the bank and JPMorgan Chase Bank NA are imposing bogus discovery requirements. 

The terms of a twice-extended stay on a proposed class action, which accuses the banks of helping Peregrine misappropriate customer funds, explicitly allowed plaintiffs and the banks to move forward with the deposition of imprisoned founder, Russell...
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