WASHINGTON, D.C. - An investor who sold his shares in Meritor Savings Bank after the bank went into Federal Deposit Insurance Corp. receivership is not entitled to collect on a $276 million award in a derivative suit arising from the FDIC's alleged breach of an acquisition agreement with the bank, the Federal Circuit U.S. Court of Appeals found March 21, affirming an underlying ruling (Frank P. Slattery Jr., et al. v. Steven Roth, et al., Nos. 2012-5041, 2012-5068, Fed. Cir.)....(read more)Image may be NSFW.
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