Lexington, VA • Tuesday, April 24, 2012
Washington and Lee law professor Christopher Bruner was quoted in American Banker on pending appeals concerning business-judgment rules, which shield businesses from decisions that seem prudent at the time but later result in harm.
| |Prof. Christopher Bruner
The story covers failed-bank suits filed by the Federal Deposit Insurance Corp. that have yet to go to trial. The uncertainty surrounding business-judgment rules, which vary from state to state, has prompted some parties in the lawsuits to look to appeals courts to help settle the issue.
"It's not surprising at all that they want to go to the appeals court immediately to get a ruling on the extent of protection that the business-judgment rule provides, because it's central to determining the viability of many claims," Bruner told American Banker. "The bottom line is that this is a very unsettled question, by and large."
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