January 24, 2024
The Federal Deposit Insurance Corp. must arbitrate its bid to recover $125 million from EY for bank fraud that the accounting behemoth allegedly failed to uncover, a Louisiana federal judge ruled Tuesday, finding now-defunct First NBC Bank entered an arbitration agreement to which FDIC, as the bank's receiver, remains bound.
July 10, 2023
The Federal Deposit Insurance Corp. asked a Louisiana federal judge to wait for a Fifth Circuit decision before disqualifying its attorneys from a $125 million bank fraud case against the accounting firm EY, saying it believes its chances of having the decision overturned are strong.
June 16, 2023
A Louisiana federal judge granted the accounting firm EY's bid to disqualify the Federal Deposit Insurance Corporation's counsel from a suit looking to recover $125 million, determining that the FDIC attorneys could be potentially prejudiced due to improper access to confidential information.