What Happened to This Bank? An Investors’ Perspective on Bank Failures, Contagion and Fraud

This session has been archived and is no longer available for purchase. Participants who have purchased archived sessions are still able to access the video and receive credit.

Session Summary: In 2023, US markets experienced historic bank failures, preceded by equally historic bank runs and plunges in book valuations. Shortly before they imploded, these banks and their outside auditors assured investors that they were in great shape despite rapidly increasing interest rates, even though they were essentially insolvent at the time. Bank CEOs have blamed fear and contagion resulting in mobile app-driven bank runs. While depositors were protected in resulting rescue efforts, investors were zeroed-out. Self-help through private enforcement is their only meaningful remedy. We will explore this crisis and investor recovery cases – including Signature Bank, First Republic, and SVB – to examine important principles for protecting institutional investors’ rights and their fiduciary duties to recover assets lost to fraud. This session is from the September 2023 Trustee School. Content may be dated.
 
Presenters:
Mario Alba
Partner
Robbins Geller Rudman & Dowd LLP
 
Brittney Balser
Associate
Bernstein Litowitz Berger & Grossmann LLP
 
Adam Savett
Of Counsel
Wolf Popper LLP
Credits: This course is worth 1.0 GAPPT CEC (Continuing Education Credit). It also qualifies for 0.1 IACET CEU (Continuing Education Unit).
Instructions: Participants must watch the session video presentation and pass the session assessment to earn GAPPT CECs and IACET CEUs.
Prerequisites: None.
Equipment Requirement: Computer, tablet or smartphone and internet access. To avoid issues, please use Google Chrome as your browser.

Course Details

What Happened to This Bank? An Investors’ Perspective on Bank Failures, Contagion and Fraud
Session Video Presentation
Session Assessment
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