Arbor Realty Trust Inc. directors and executives are free of allegations that they breached their fiduciary duties by causing the company to disregard its underwriting standards and not disclose unsound loans.
Both parties agreed to dismiss the derivative case without prejudice after a class action with the same allegations was closed in May, according to a Thursday filing in the US District Court for the District of Maryland. A judge ruled that investors failed to allege that Arbor or top executives thought their stated opinions were inaccurate, among other issues.
The initial shareholder derivative complaint alleged that the real estate ...
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