WASHINGTON -- In a case likely to reverberate in other courtrooms where the government is suing managers of failed thrifts, a federal district court dismissed a suit against nine former directors of McLean, Va.-based Trustbank Savings.

The U.S. District Court for the Eastern District of Virginia announced Thursday that it had dismissed a government case against former chairman William L. Walde and other Trustbank directors. The case, Resolution Trust Corp. v. Walde, was filed Jan. 24 in the Alexandria, Va., court, and the decision was dated May 4.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.