NEWS ARTICLE

"The FDIC is fond of saying they want to settle and that the vast majority of their investigations don't lead to litigation."

- Jeffrey Tisdale

Quote from Daily Journal Article: "FDIC Sues Executives at Second California Bank" January 24, 2011. Click here to view full article

DEFENSE OF ADMINISTRATIVE PROCEEDING

Beginning in May of 2010, Jeff Tisdale defended a former senior executive officer of a bank located in Northern California against a threatened civil money penalty action initiated by bank regulatory authorities. The allegations stemmed from the government's interpretation of certain laws and regulations pertinent to the issuance of credit and debit cards to consumers in connection with programs of merchant clients of the bank. As a direct result of Jeff's presentation of the evidence and law, the regulators determined not to continue with efforts to pursue civil money penalties, or any other sanctions, and dropped all claims against our client.

CORPORATE TRANSACTIONS

Jeff Tisdale and David Rosen represented a bank client of the firm in connection with its recent acquisition by a Los Angeles based financial services firm. The transaction started as a private placement by the Bank raising capital from hedge fund investors but transformed into a straight cash-out merger. The acquirer raised significant capital from hedge funds, acquired all of the outstanding stock of the Bank and recapitalized the Bank. The transaction received approvals from the Federal Reserve Board, the Federal Deposit Insurance Corporation and the California Department of Financial Institutions and closed on June 18, 2010.