OTHER NEWS - July 26, 1991
Ex-Officers of First RepublicBank Sued: Federal regulators filed a lawsuit against former directors and officers of failed First RepublicBank Corp. of Dallas, seeking at least $100 million for their involvement in the nation’s largest bank failure. The suit names 39 former directors of First Republic and one of its two predecessor institutions, RepublicBank Corp. The suit says the directors and officers “wrongfully and negligently failed to exercise that degree of care and diligence required.” The collapse has been estimated to cost taxpayers $3 billion.
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