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Results: 1-10 of 26

Georgia Supreme Court confirms business judgment rule protection

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 15 2014

In a landmark decision, FDIC v. Loudermilk, the Georgia Supreme Court confirmed that the business judgment rule protects Georgia’s directors and

Unclaimed property update: Delaware promulgates audit look-back regulation and the Supreme Court denies cert. in New Jersey stored value card litigation

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 9 2012

This advisory addresses two recent developments of particular importance to holders of unclaimed property: (1) Delaware’s promulgation of a regulation impacting the look-back period for unclaimed property audits and (2) the U.S. Supreme Court’s denial of certiorari in the ongoing New Jersey stored value card litigation

Federal consumer protection agency to determine whether federal law preempts application of state unclaimed property laws to unredeemed gift card balances

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 20 2012

The Consumer Financial Protection Bureau (CFPB) is a federal agency created in 2010 and is tasked with protecting consumers by carrying out federal consumer financial laws

Northern District of Georgia affirms BJR protection of bank directors and officers and requires FDIC to specifically identify each defendant’s grossly negligent conduct

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 15 2012

On August 14, 2012, the U.S. District Court for the Northern District of Georgia affirmed the applicability of the business judgment rule in connection with actions taken by bank directors and officers and dismissed ordinary negligence and breach of fiduciary duty claims brought by the Federal Deposit Insurance Corporation (FDIC) against various former directors and officers of a now-defunct Georgia bank

In watershed decision, federal court dismisses shareholder class action against directors and officers of failed bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 24 2011

The road to recovery for shareholders of failed banks and other companies that lost value in the wake of the Great Recession just got a lot tougher

GAO issues report assessing TARP capital purchase program

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 7 2010

On Monday, the U.S. Government Accountability Office (GAO) released a report entitled, “Opportunities Exist to Apply Lessons Learned from the Capital Purchase Program to Similarly Designed Programs and to Improve the Repayment Process.”

Subcommittee holds hearing on the comparison of international housing finance systems

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 30 2010

Yesterday, the Senate Banking Committee's Subcommittee on Security and International Trade and Finance held a hearing entitled "Comparison of International Housing Finance Systems"

House Financial Services Committee holds hearing on executive compensation oversight in the wake of Dodd-Frank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 26 2010

On Friday, the House Financial Services Committee held a hearing entitled "Executive Compensation Oversight after the Dodd-Frank Wall Street Reform and Consumer Protection Act"

Delaware court refuses to apply choice of law provision in investment bank's engagement letter

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 29 2010

In Shandler v DLJ Merchant Banking, Inc, a recent Delaware Court of Chancery decision, the court refused to apply the choice of law provision in an investment bank's engagement letter to a claim alleging that the investment bank had aided and abetted a breach of fiduciary

SEC charges Citigroup and two executives in connection with misleading information regarding exposure to subprime assets

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 30 2010

Yesterday, the Securities and Exchange Commission ("SEC") charged Citigroup with misleading investors concerning the company's exposure to subprime mortgage-related assets