Sheppard Mullin's Financial Institution Law Blog is a relatively new arrival on the scene but they've had some great posts thus far inluding this one regarding the ability for a court to hold banks liable for aiding and abetting malfeasance on the part of corporate officers.

The post cites a 4th Circuit Court of Appeals decision, which affirms that plaintiffs must alledge that "actual knowledge of the specific breach of fiduciary duty for which it seeks to hold the defendant (bank) liable."

For more info on the case and analysis on the opinion click on over here.

-- MDT