IndyMac's Ex-CEO, FDIC Reach Settlement

12.18.2012
New York Law Journal, Daily Business Review

Nossaman Partner Stephen Wiman is mentioned in the New York Law Journal's article "IndyMac's Ex-CEO, FDIC Reach Settlement" as lead counsel representing the FDIC in a civil suit against Michael W. Perry, former CEO of IndyMac Bank.  Mr. Perry agreed to pay $1 million to the FDIC and is barred from ever working in the banking industry again as part of the settlement. 

The publication notes that the settlement was announced exactly one week after the FDIC won a victory in a suit against three other former IndyMac executives.  The U.S. District jury in that case found that the former executives had been negligent and breached their fiduciary duties and "awarded $169 million in damages to the FDIC, which was represented by Nossaman."

Mr. Wiman and Nossaman are also both mentioned as representing the FDIC in a similar article in the Daily Business Review.

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