Fidelity Federal Bank, which has been stung by real estate losses and was forced through a painful restructuring last year, now faces a lawsuit by a former employee alleging violations of banking and securities laws.

William Strocco, a 53-year-old former manager of real estate that Fidelity had acquired by foreclosure, is suing the thrift in Los Angeles County Superior Court. He claims he was wrongfully forced out of his job and defamed in an especially ugly manner after objecting to the alleged violations.

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