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F.D.I.C. v. LOUDERMILK

Civil Action No. 1:12-CV-4156-TWT.

984 F.Supp.2d 1354 (2013)

FEDERAL DEPOSIT INSURANCE CORPORATION as receiver for The Buckhead Community Bank, Plaintiff, v. R. Charles LOUDERMILK, Sr., et al., Defendants.

United States District Court, N.D. Georgia, Atlanta Division.

November 25, 2013.

Attorney(s) appearing for the Case

Ellis A. Sharp, Stokes, Williams, Sharp & Davies, Knoxville, TN, Charles B. Lee, Laura Elisabeth Ashby, Michael Paul Kohler, Miller & Martin, PLLC, Atlanta, GA, for Plaintiff.

Elizabeth Gingold Greenman, Robert R. Long, IV, Alston & Bird, LLP, Atlanta, GA, for Defendants.

OPINION AND ORDER

THOMAS W. THRASH, JR., District Judge.

The Federal Deposit Insurance Corporation, acting as receiver for the Buckhead Community Bank, claims that former officers and directors of the bank were negligent and grossly negligent in their management of the bank's loan portfolio, leading to the bank's failure. The Defendants seek to dismiss the claims. They argue that, in Georgia, the business judgment rule precludes ordinary negligence...

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