In July 2012, the United States Court of Appeals for the Eleventh Circuit granted judgment on behalf of our clients BankAtlantic and the officer defendants because the court concluded the plaintiffs and their expert failed to demonstrate loss causation and damages. Specifically, the Court found that none of the evidence presented excluded the possibility that class members’ losses resulted not from anything specific that the defendants hid from the public, but from market forces that it had warned of and that would likely have caused significant losses for an investor in any bank with a significant credit portfolio in commercial real estate in Florida in 2007. Mike Keable led a team from Compass Lexecon’s Chicago office that included Laurel Van Allen in assisting the Defendants. We worked with Gene Stearns, Adam Schachter, Grey Mead and others of Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A.
- Securities & Financial Markets
- Financial Institutions & Products
- Michael A. Keable