BKD agreed to $4M settlement with FDIC

A month after BKD LLP and the Federal Deposit Insurance Corp. settled a federal lawsuit over the failure of First Southern Bank of Batesville, Arkansas Business reports the price tag of that agreement was $4 million.
 
The settlement was reached days before a trial was scheduled to begin in U.S. District Court in Little Rock, Ark.
 
In 2013, the FDIC sued the Springfield-based accounting firm for allegedly failing to catch fraudulent activities committed by former Little Rock attorney Kevin Lewis that led to the bank’s collapse in 2010.
 
The FDIC’s suit accused BKD of negligence and breach of contract and suggested damages of $22.9 million, according to Arkansas Business.
 
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