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Chinacast Education Corporation v. Signature Bank et al

  1. February 29, 2016

    Chinacast Drops Litigation Against Banks Over $35M Theft

    Chinacast Education Corp. has agreed to end litigation against three banks it alleged negligently allowed the company's ex-CEO to illegally transfer $35 million to a sham entity after a 2009 public offering in order to enrich himself, according to New York federal court documents Monday.

  2. February 12, 2016

    Signature Bank Wants Out Of Chinacast Suit Over $35M Theft

    Signature Bank urged a New York federal judge Friday to toss Chinacast Education Corp.'s complaint against it in a lawsuit accusing Signature and other banks of negligently allowing Chinacast's ex-CEO to illegally transfer $35 million to a sham company following a 2009 public offering, arguing the claims are preempted and untimely.

  3. December 08, 2015

    Chinacast Says Banks Missed 'Red Flags,' Allowed $35M Theft

    Chinacast Education Corp. slapped HSBC, Signature Bank and Bank of China with a suit in New York federal court Monday, accusing the banks of "willful blindness" for allowing the educational service provider's ex-CEO to illegally transfer $35 million to a sham holding company after Chinacast's public offering.