Defendant Name:
BankAtlantic Bancorp, Inc.
Defendant Type:
Public Company
SIC Code:
6035
CUSIP:
06590880
Document Reference:
comp22229
Document Details
Legal Case Name
SEC v. BankAtlantic Bancorp, Inc. and Alan B. Levan
Document Name
Complaint
Document Date
18-Jan-2012
Document Format
Civil Proceeding
Case Number
12-cv-60082
Federal District Court
Florida, Southern District of Florida
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Other Defendants in Action: