US Century Says Investors' Derivative Claims Fall Short

Law360, Miami (September 27, 2013, 9:38 PM EDT) -- U.S. Century Bank and several executives called derivative claims against them deficient Friday as arguments wrapped up on motions to dismiss two shareholder suits claiming waste and mismanagement by the bank's executives, but the shareholders said the defendants were to blame for the lack of details.

“I've got a decent idea where I'm headed,” Florida state Judge John W. Thornton said after letting Friday's hearing stretch to three hours.

He has a number of decisions to make, between the defendants' motions to dismiss both direct and...
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