Bender v. Jordan’s Empirical Analysis

Citation profile

1 federal appellate · 3 district ·

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 4 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “All six original defendants were jointly represented by one firm which mounted the same defense on behalf of each of them. The Court’s findings after the preliminary injunction hearing, however, did not include Messrs. Cobb, Fitzgerald, or Youngentob as active transgressors of the securities laws or bylaws. They were subsequently dismissed from the suit. Thus, but for the actions of Ms. Jordan and Messrs. Wilmot and Batties, IFSB would not have violated the securities laws, Mr. Bender would not have filed a successful shareholder derivative action against IFSB, and IFSB therefore would not have advanced funds for legal expenses to any of the Director Defendants or Mr. Bat-ties .... And because all six original defendants were represented jointly by one law firm and because that firm mounted the same defense for all of them, the entire amount of the legal fees that the firm accrued is properly attributable to those who were fairly responsible for the expenses — the three Cross-Defendants. The fair share of the legal fees for which each of the three Cross-Defendants is severally liable is equal to one-third of $649,614.39— the total sum of the attorneys’ fees and expenses accumulated in defense of Mr. Bender’s lawsuit. Consequently, each Cross-Defendant [Ms. Jordan, Mr. Wilmot, Mr. Batties] is liable severally, not jointly, for $216,538.13 plus interest thereon from June 20, 2007 through the day of payment in full by [each].”

   1 later decision quote this exact passage · from the majority
   e.g. 612 F. Supp. 2d 62 - Bender v. Jordan

2. “Pursuant to Regulations of the Office of Thrift Supervision (the “OTS”) governing advancement of expenses to directors and officers of a federal savings, association, 12 C.F.R. § 545.121 (e), (the “Regulation”), with respect to claims brought against a director or officer arising from service as a director or officer of a federal savings association, I hereby request that Independence Federal Savings Bank (the “Bank”) pay reasonable expenses and costs that have been or will be incurred in the defense or settlement of the litigation styled as Morton A. Bender, et al. v. Carolyn D. Jordan, et al. Under the Regulation, I hereby agree that I will repay the Bank any amounts so paid on my behalf by the Bank if it is later determined that I am not entitled to indemnification with respect to the litigation under 12 C.F.R. § 121 , and I represent that I have sufficient assets to repay my fair share of such amounts.”

   1 later decision quote this exact passage · from the majority
   e.g. 612 F. Supp. 2d 62 - Bender v. Jordan