Federal Deposit Insurance Corporation as Receiver for Vantus Bank v. Officers and Directors of Vantus Bank
Analysis Group was retained by the law firm of Dorsey and Whitney LLP on behalf of officers and directors of Vantus Bank, the defendants in this matter filed in the US District Court, Northern District of Iowa. The Federal Deposit Insurance Corporation (FDIC) alleged that Vantus, a Sioux City, Iowa-based bank that was taken over by regulators in 2009, purchased risky securities in excess of regulatory limits. Our team, led by affiliate Laura Stamm and Managing Principal Andrew Wong, and including Vice Presidents Na Dawson and Edi Grgeta, supported expert Dennis Logue, Professor Emeritus at Dartmouth, in analyzing the reasonableness of the bank's investments, which predated the financial crisis, and placing them in the proper context. The case settled.