Page 3 - Greg Braca News Today

Court-appointed custodian Alfred Putnam is seeking an extension of nearly three weeks to give more groups time to nominate candidates for a vacant board seat at the Philadelphia bank and solicit proxies from investors before a special meeting.

Prominent Philadelphia appellate attorney Alfred Putnam is charged with convening a special shareholder meeting to fill a vacant seat on the board. CEO Vernon Hill is competing with a four-member faction of the board — and two separate groups of activist investors — for control of the bank.

Judge appoints a special custodian, Alfred Putnam of Faegre Drinker Biddle & Reath LLP, to temporarily assume control of Republic First Bank.

The death of a board member broke the stalemate over control of the company, but a federal judge prevented the board from naming a new chairman.

The death of a board member broke the stalemate over control of the company, but a federal judge prevented the board from naming a new chairman.

The Norcross Braca Group has withdrawn all litigation filed against Republic First Bank and certain directors.

The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

A member of the Republic Bank board who was backing CEO Vernon Hill in a battle for control of the company has died.

The battle for control of Republic First Bank is reaching a fever pitch, with a federal judge ruling Friday that CEO Vernon Hill’s slate of board directors must respond to a lawsuit brought by activist investor Abbott Cooper.

A U.S. District Court ordered the Philadelphia-based bank, headed by Vernon Hill, to respond by Monday to Driver Management’s claim that its board improperly postponed a May 10 shareholder meeting.