Defendant Name: BankAtlantic Bancorp, Inc.

Defendant Type: Public Company
SIC Code: 6035
CUSIP: 06590880

Initial Case Details

Legal Case Name SEC v. BankAtlantic Bancorp, Inc. and Alan B. Levan
First Document Date 18-Jan-2012
Initial Filing Format Civil Proceeding
Case Number 12-cv-60082
Allegation Type Issuer Reporting and Disclosure
Federal District Court Florida, Southern District of Florida

Violations Alleged

Exchange Act
Sec 10(b) + Rule 10b-5
Rule 12b-20
Sec 13(a)
Rule 13a-1
Rule 13a-13
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)
Additionally, Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Sec 13(a) of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Alan B. Levan is alleged to have aided and abetted BankAtlantic Bancorp, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Resolutions

First Resolution Date 08-May-2017

Related Documents:

comp22229 18-Jan-2012 Complaint
Complaint
On January 18, 2012, the SEC filed a complaint against BankAtlantic Bancorp, Inc. The SEC alleged that BankAtlantic Bancorp and Alan B. Levan, the CEO and Chairman of BankAtlantic, engaged in fraud by "not timely disclosing a known trend regarding extended and downgraded loans in its commercial residential real estate land acquisition and development portfolio (the 'Commercial Residential' portfolio); selectively disclosing problem loans; and engaging in improper accounting treatment of loans they were attempting to sell."
LR-22229 18-Jan-2012 Litigation Release
Litigation Release
On January 18, 2012, the SEC issued a litigation release describing its complaint against BankAtlantic Bancorp, Inc. and Alan Levan.
2012-13 18-Jan-2012 Press Release--Civil Action
SEC Charges Florida Bank Holding Company and CEO with Misleading Investors about Loan Risks During Financial Crisis
On January 18, 2012, the SEC announced that it charged BankAtlantic Bancorp ("BankAtlantic"), the holding company for one of Florida's largest banks, and its CEO and chairman Alan Levan ("Levan") with misleading investors about growing problems in one of its significant loan portfolios early in the financial crisis. According to the SEC's complaint filed in U.S. District Court for the Southern District of Florida, BankAtlantic and Levan made misleading statements in public filings and earnings calls in order to hide the deteriorating state of a large portion of the bank's commercial residential real estate land acquisition and development portfolio in 2007. BankAtlantic and Levan then committed accounting fraud when they schemed to minimize BankAtlantic's losses on their books by improperly recording loans they were trying to sell from this portfolio in late 2007. The SEC's complaint seeks financial penalties and permanent injunctive relief against BankAtlantic and Levan to enjoin them from future violations of the federal securities laws. The complaint also seeks an officer and director bar against Levan.
court_doc474_12-cv-60082 24-Sep-2015 Court Docket Document
Final Judgment
On September 24, 2015, Judge Darrin P. Gayles entered Final Judgment against BankAtlantic Bancorp, Inc. and Alan B. Levan. The decision was appealed.
court_doc625_12-cv-60082 08-May-2017 Court Docket Document
Final Judgment
On May 8, 2017, a final judgment was entered in favor of BankAtlantic Bancorp. Inc. and Alan B. Levan and against the SEC.
court_doc624_12-cv-60082 08-May-2017 Court Docket Document
Jury Verdict
On May 8, 2017, a Jury Verdict was entered in favor of the BankAtlantic Bancorp. Inc. and Alan B. Levan.

Other Defendants in Action: