Court Issues Mixed Decision in North Carolina Business Judgment Case
A federal appeals court today issued a mixed decision in the closely watched case of FDIC v. Rippy, which arose from the 2009 failure of a North Carolina community bank.
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Fourth Circuit Allows FDIC’s Negligence Claims Under Business Judgment Rule
If the parties do not reach a settlement, the case will return to the lower court for a trial on the issue of the FDIC-R’s claims of ordinary negligence and breach of fiduciary duty against the bank’s officers.