RECENT INDUSTRY REPORT HIGHLIGHTS INCREASE IN FDIC LITIGATION AGAINST DIRECTORS AND OFFICERS OF FAILED FINANCIAL INSTITUTIONS IN 2012. "On December 18, 2012, Cornerstone Research published a report citing increased litigation by the FDIC against directors and officers of failed financial institutions in 2012. As of December 7, 2012, the FDIC had filed 23 lawsuits in 2012, significantly more than the 16 lawsuits filed against directors and officers of failed institutions in 2011 and the two filed in 2010. Overall, approximately nine percent of financial institutions that have failed since 2007 have been the subject of FDIC lawsuits. While these lawsuits have generally targeted larger failed institutions, the lawsuits filed in the second half of 2012 have been against smaller institutions." The complete article by
Paul B. Benham III,
Robert T. Smith,
Bryan Duke, and John F. Griffee is available for download
here.