FDIC files more D&O suits: What it means for GCs

In the current environment, no one called “officer” should feel too safe

In 2014, lawsuits by the Federal Deposit Insurance Corporation (FDIC) that named the directors and officers of failed financial institutions greatly exceeded the annual totals of the previous three years.

There were 40 D&O suits in 2013, compared to annual totals of 26 in 2012, 16 in 2011, and two in 2010, according to a recent study by Cornerstone Research titled “Characteristics of FDIC Lawsuits against Directors and Officers of Failed Financial Institutions—February 2014.”

Richard Levick

Richard Levick, Esq., is the chairman and CEO of Levick. Follow him on Twitter @RichardLevick.

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.