In June 2009, Country Bank failed, and the Federal Deposit Insurance Corporation (FDIC) subsequently became the receiver for Country Bank. As the receiver, the FDIC sought to recover losses of $42 million created by the 2009 bank failure by filing an action against Country Bank's former bank officers. The FDIC alleged claims of negligence and breach of fiduciary detail. The defendants answered by asserting that the FDIC's claims were barred by the business judgement rule. In response, the FDIC argued that the business judgement rule does not apply to bank officers, therefore does not grant the defendants any immunity. How did the court rule? What reasons did the court provide? Do you agree with the court's reasoning? Why or why not?

Source:Federal Deposit Insurance Corporation v. Hawker, 2012 U.S. Dist. LEXIS 79320.