First Bank Of Delaware Investor Demands To See Records

Law360, Wilmington (October 25, 2013, 9:33 PM EDT) -- A First Bank of Delaware investor fired off a books and records complaint Friday, seeking to investigate whether the bank's directors were culpable for a series of alleged consumer frauds that ultimately led to the bank's demise and a $16 million settlement with authorities.

Walter Moser filed his demand in the Delaware Court of Chancery. He is also seeking to determine the financial condition of the FBD Liquidating Trust, which succeeded the bank, and to gauge the independence of the five trustees, all of whom were...
To view the full article, register now.