The Founding Members of Certusbank Fight Back and File Federal Lawsuit



April 23, 2014

The Founding Members of CertusBank Fight Back and File Federal Lawsuit

Founding Members and Ex-Executive Officials of CertusBank filed Federal lawsuit today, April 23, 2014, in South Carolina Federal Court to Fight Back for their Lost Jobs and Defamed Reputations

Charleston, SC – Today, April 23, 2014, Bland Richter, LLP, along with the Plaintiffs, who are among the founding members of the bank, file a federal lawsuit against CertusBank for an excess of $75,000. According to the suit, CertusBank, a few rogue Board members of the bank, and one investor conspired to oust the Plaintiffs from their jobs and co-opt the Board and to take control of CertusBank through the calculated dissemination of defamatory statements about the Plaintiffs. These statements were not only slanderous, but also racist, outrageously uncivilized, and offensive to the African American leadership of the bank.

According to the lawsuit, these conspirators, along with New York hedge fund mogul, Benjamin Weinger, and his organization, 3-Sigma Value Financial Opportunities, L.P., engaged in a intensive effort to wrestle control of the CertusBank using underhanded tactics. These tactics included widespread marketing of lies and half-truths on a national scale to negatively depict the business practices and judgment of the founders, publication of inflammatory mistruths and illegally obtained internal customer information and prevention of Plaintiffs from providing a factual and true defense against all of these efforts.

CertusBank was founded in 2010 by Plaintiffs, Milton Jones, Walter Davis and Angela Webb. It was a new national bank that had a plan to buy the remains of failed or failing financial institutions and make them profitable. In just three short years, CertusBank grew from four to 700 employees, launched banking operations in four southern states and amassed control of over $1.7 billion in assets. Plaintiffs, who all happen to be African American, built CertusBank into the largest minority founded and operated financial institution in American history.

About Bland Richter
Bland Richter’s practice areas include a concentration in legal and professional malpractice. Partners, Eric Bland and Ronnie Richter, have a combined 45 years of legal experience. In addition, Bland Richter prosecutes medical malpractice, complex commercial, transactional and business disputes. With offices in both Columbia and Charleston, South Carolina, the firm serves the entire State of South Carolina and beyond. In addition to its members being admitted to practice law in South Carolina, Eric Bland is also a member of the Pennsylvania and Florida bars. Bland Richter is available for association anywhere in the Country where its services may be necessary.

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