Fact issue exists as to whether bank CEO’s earnings call statements were false or misleading; SEC win reversed, and panel remands for a new trial. The SEC sued BankAtlantic Bancorp and CEO Levan, contending that Levan lied and committed accounting fraud during the financial crisis. A jury found defendants liable for violating the antifraud provisions of the federal securities laws. On appeal, defendants argued that the district court ignored conflicting evidence and incorrectly held that Levan made false statements in an earnings call with shareholders. The Eleventh Circuit reversed on that issue and remanded for a new trial, finding the existence of a material issue of fact as to whether Levan’s earnings call statements were false or misleading. (9/28/2016) SEC.