IndyMac executives liable for more than $168 million
Nossaman Partner Tom Long is quoted in the Daily Journal article "IndyMac executives liable for more than $168 million, " regarding the verdict holding three former executives of IndyMac Bank FSB's homebuilder division liable for more than $168 million in failed loans to developers. Nossaman represented the FDIC in trial.
Although the original complaint filed against the officers by the FDIC in 2010 listed more than 100 negligent loans, this first phase of litigation focused on only 23. Mr. Long is quoted as saying that he would confer with the FDIC to determine "whether any future phases are necessary or advisable."