The Financial Institutions Reform, Recovery, and Enforcement Act requires that once the Federal Deposit Insurance Corp. assumed receivership of a bank, claimants must exhaust those remedies before suing in court, said Judge Araceli Martínez-Olguín Monday while tossing the suit.
But the investor who first sued in this action didn’t file a claim with the FDIC at all, and the Swedish pension fund serving as lead plaintiff didn’t wait for resolution ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.