The US Federal Deposit Insurance Corporation (FDIC) estimates that by the end of 2010, more than 300 banks will have failed, and that the cost of resolving these failures may reach $100 billion over the next four years.1 To date, there has been only modest litigation related to these failures—the first publically disclosed case brought by the FDIC against directors and officers was filed only recently, on July 2, 2010.