DC Bank Execs To Pay Atty Fees In Proxy Battle Feud

Law360, New York (January 22, 2010, 5:45 PM EST) -- Three former executives of Independence Federal Savings Bank will have to pay $600,000 in legal fees to two shareholders who sued them for misconduct related to a bitter proxy contest, after a federal judge found their answer to the complaint was full of false statements.

In a ruling handed down Wednesday in the U.S. District Court for the District of Columbia, Judge Rosemary M. Collyer found that IFSB Chair Carolyn D. Jordan, Vice-Chair David Wilmot and acting President and CEO Thomas L. Batties had lied at...
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