November 09, 2011
A Georgia federal judge on Wednesday approved a $12.5 million settlement in a class action targeting online bank NetBank Inc. and executives for allegedly defrauding investors by not disclosing the bank's true condition before its takeover by federal regulators and subsequent liquidation.
March 28, 2011
Former NetBank Inc. executives and directors asked a Georgia federal court for judgment Friday on class allegations that they improperly used hedge accounting to mislead investors about the online bank's health before its takeover by federal regulators and subsequent liquidation.