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Home / Opinion Digests / Directors Face ‘Control Person’ Liability Claim (access required)

Directors Face ‘Control Person’ Liability Claim (access required)

Investors in a bank that collapsed have sufficiently pleaded “control person” liability claims against defendant bank executives and director defendants, based on allegations of conduct such as defendants signing at least two financial statements that were purportedly fraudulent; the Norfolk U.S. District Court accepts the magistrate judge’s recommendation to deny dismissal of these claims. Count I ...

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