Federal Deposit Insurance v. Jackson

WARDLAW, District Judge:

The Federal Deposit Insurance Corporation (“FDIC”) appeals adverse rulings in its actions asserting breach of fiduciary duty, negligence, and gross negligence against the directors of a failed Arizona bank, Century Bank (“Ceintury” or the “Bank”), as well as spousal liability. It is the culmination of a sorry saga of alleged mismanagement by defendants, members of the Board of Directors of Century, a state-chartered, federally insured banking institution, at various times from the Bank’s opening in January 1981 through October 1989. During most of this time, from…