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FDIC seeks dismissal in high profile Keystone case
After a month of inactivity the FDIC asked the court to allow inter vent and dismiss Waynesburg College versus Grant Thornton. The case involves the failed First National Bank of Keystone and claims by Waynesburg College and Hargrave Military Academy that mismanagement hid the bank’s fraud. The FDIC argues the schools’ damages stem from diminished value of McConnell stock and that only the FDIC may pursue derivative claims of a failed bank.
MENTIONED IN THIS ARTICLE
Bluefield
First National Bank of Keystone
Federal Deposit Insurance Corporation
Waynesburg College
Grant Thornton
College
Waynesburg
Hargrave Military Academy
Chatham
McConnell
OCC
FDIC
Leach
Keystone
LLP
Kutak