BankAtlantic Execs Dodge Shareholder Suit

Law360, New York (December 15, 2008, 12:00 AM EST) -- A federal judge has dismissed a shareholder class action against BankAtlantic Bancorp Inc. executives that accused them of issuing misleading financial statements and failing to disclose millions of dollars worth of bad loans.

Judge Ursula Ungaro of the U.S. District Court for the Southern District of Florida granted the defendants' motion to dismiss the case on Thursday, ruling that the plaintiffs, a class of those who had purchased stock in the company from Nov. 2005 to Oct. 2007, did not adequately prove that the bank’s board...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.