The Firm’s attorneys have represented a number of local, regional and national banking institutions in commercial and securities litigation. The Firm’s attorneys have substantial experience with the internal operations of banks and the regulatory oversight issues.
The following are a few examples of Banking matters that have been handled by the Firm’s attorneys:
- Following a very recent trial, Michael L. Kirby obtained a finding of fraud based on clear and convincing evidence against guarantors that had initiated suit against the bank which resulted in cross-claims being filed. The punitive damages phase will commence shortly.
- Michael L. Kirby and Jason M. Kirby successfully defended numerous officers and directors of a failed banking institution against the OTS and FDIC following allegations of breach of fiduciary duty and alleged violations of the applicable federal banking rules and regulations. Following extensive recitation of the facts and law, their clients were not named in the federal action that followed. After the case was filed in the Southern District Court, the Kirbys took over the defense of a named director in that suit and were successful at resolving the case for no out-of-pocket damages having to be paid to the FDIC-R.
- Michael L. Kirby obtained summary judgment in favor of his clients, a Michigan bank and its directors, in a business tort case involving alleged damage claims of $30 million in Arizona Superior Court.
- Michael L. Kirby represented the financial services affiliate of a national bank against claims that one of the affiliate’s agents sold variable annuities to a group of senior citizens by allegedly misrepresenting the risks associated with the investments. A confidential settlement was negotiated on behalf of the client.