United States Fifth Circuit

In a suit brought by former directors of a bank alleging violations of the Racketeer Influenced and Corrupt Organizations Act (RICO) and state-law claims, a take nothing judgment against defendants is affirmed, primarily as: 1) defendants properly raised the in pari delicto defense; 2) contrary to directors' claim, in pari delicto is a cognizable defense to a civil RICO claim; 3) the district court properly followed the Bateman Eichler formulation of in pari delicto, the "substantially equal responsibility" standard; and 4) there was sufficient evidence to support a jury finding that directors, and bank, were in pari delicto.

Appellate Information

• Decided 03/18/2008
• Published 03/19/2008

Judges

Court

• United States Fifth Circuit

Counsel