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3 years ago I filed a civil lawsuit against a publicly

traded bank in NY State...
3 years ago I filed a civil lawsuit against a publicly traded bank in NY State Supreme Ct. for abuse of process and malicious prosecution. I named the banks CEO personally, the merits of the case were so strong that the judge pierced the corporate veil of the CEO. The bank failed to disclose this to the share holders and the OCC investigated and fined the bank five million dollars and issued other violations. The state court case was dismissed without prejudice on a technicality, not on the merits. The judge said the case needed to be addressed in bankruptcy court and when that was complete the case/claims can be filled again in State Court. 5 weeks ago we refiled the claims that were never ajudicated in NYS Supreme Ct. My question is: This case does not fall into the General Course of Business and as a publicly traded entity is the bank required to disclose the litigation to the share holders? if so, in what time frame and how do they disclose this?
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Answered in 20 minutes by:
2/15/2018
Law Educator, Esq.
Category: Consumer Protection Law
Satisfied Customers: 125,320
Experience: Attorney experienced in commercial litigation.
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Actually, publicly traded companies only need to disclose lawsuits on their 10K and/or 10Q reporting forms which are their annual and/or quarterly reports to the SEC. These reports are public record and published on each company by the SEC as well. If they reported the suit there that is the requirement, it does not require separate notice to the shareholders. The suit must be filed on the next regularly filed 10K or 10Q annual or quarterly report from when the suit was filed.

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Law Educator, Esq.
Category: Consumer Protection Law
Satisfied Customers: 125,320
Experience: Attorney experienced in commercial litigation.
Verified
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