Corporate America and accounting firm RubinBrown LLP have entered into a confidential settlement to end their dispute arising in the aftermath of the U.S. Central collapse, according to sources close to the matter. 

Corporate America had filed suit against the accounting firm in connection with services RubinBrown had performed for U.S. Central. In a report prepared by RubinBrown, the accounting firm had said that paid-in-capital shares in U.S. Central were worth at least $450 million. Corporate America, in its suit, claimed it relied on that report in deciding to exchange its member capital shares in U.S. Central for PIC. Shortly thereafter, U.S. Central was placed into conservatorship, and the PIC shares were worthless. 

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.