Shareholders are suing a bank’s directors for not paying sufficient attention to the bank’s annual report. The shareholders’ derivative action alleges the annual report threw up “red flags” that should have allowed the defendants to ward off regulatory action that ...

Tagged with: Banking Corporate Federal Courts Judge T.S. Ellis III

A bank’s ex-CEO who seeks severance pay lives to fight another day after a Norfolk federal judge rejected the bank’s preemptive strike. When Scott C. Harvard demanded the severance payment, Shore Bank, his former employer, filed suit in federal court ...

Tagged with: Banking Federal Courts Judge Mark Davis

While a stagnant economy means a tough job market for many lawyers, legal staffing experts predict that attorneys with specialized skills will continue to find themselves in high demand in 2013. It’s a “specialist economy” for the legal profession, said ...

Tagged with: Banking Employment Heath Care Act Intellectual Property

An Alexandria federal judge will enforce a lucrative noncompete agreement between Capital One Financial Corp. and two former top executives. The decision by U.S. District Judge Liam O’Grady in Capital One Financial Corp. v. Kanas (VLW 012-3-213) is remarkable for ...

Tagged with: Banking Federal Courts Judge Liam O'Grady Noncompete

A Norfolk church, Garden of Prayer, was a holder in due course of a $400,000 cashier’s check that was not honored by defendant Wells Fargo bank, but Wells Fargo is not liable to Garden of Prayer as it complied with ...

Tagged with: Banking Judge Mark Davis U.S. District Court - Eastern District

A bank that unwittingly helped fund a now-convicted mortgage loan swindler has blocked an effort to force it to give up its proceeds to help pay back victims of the fraud. An Alexandria bankruptcy judge dismissed a trustee’s $4.5-million claim ...

Tagged with: Banking Bankruptcy Federal Courts Judge Robert G. Mayer

Donald Trump wants to cut to the front of the line to buy a mansion, but a bank is trying to do what few have the temerity to do: To tell Trump “No!” This dust-up arises from the mess leftover ...

Tagged with: Banking Bankruptcy Federal Courts Judge Norman K. Moon

A federal judge in Richmond has awarded almost $40 million to SunTrust Mortgage Inc. from a subsidiary of AIG Inc. that insured second mortgages issued by the lender. In a related ruling, Senior U.S. District Judge Robert E. Payne relieved ...

Tagged with: Banking Federal Courts Judge Robert E. Payne Million-Dollar Verdicts

When is a bank not a bank? A Norfolk Circuit Court had to answer that question when the Virginia Department of Taxation sought back taxes from a private national bank with a Norfolk branch. The bank came out ahead in ...

Tagged with: Banking Judge Mary Jane Hall Norfolk Circuit Court Taxation

A Norfolk Circuit Court says that because AMG National Trust Bank is subject to the Virginia Bank Franchise Tax Act, Va. Code § 58.1-1200, it is not liable for corporate income tax, and the Virginia Department of Taxation is ordered ...

Tagged with: Banking Judge Mary Jane Hall Norfolk Circuit Court Virginia Circuit Courts