March 14, 2012 - The Court of Appeals affirmed the court's decision.

April 19, 2011 - A notice of appeal was filed.

March 21, 2011 - The court granted the defendants' motions to dismiss.

March 5, 2010 - Motions to dismiss the amended consolidated complaints were filed.

December 22, 2009 - A second amended consolidated complaint was filed.

July 17, 2009 - Additional cases were consolidated.

March 6, 2009 - An amended consolidated complaint was filed. 

June 6, 2008 - An investor in shares of Franklin Bank Corporation (NASDAQ: FBTX now trading on the OTC sheets as FBTXQ) filed a lawsuit in the U.S. District Court for the Southern District of Texas against Franklin Bank Corporation over alleged violations of Federal Securities Laws made in connection with certain allegedly false and misleading statements made between October 29, 2007 and May 5, 2008.

According to the complaint the plaintiff charges Franklin Bank Corporation and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that between October 29, 2007 and May 5, 2008 defendant issued materially false and misleading statements regarding Franklin Bank Corporation's business and financial results.

Specifically, the complaint alleges that, between October 29, 2007 and May 5, 2008, the defendants engaged in a variety of accounting improprieties, including their admitted failure to charge off uncollectible loans and to mark Franklin Bank Corporations’s loans to market.

As a result of the misconduct alleged, defendants understated Franklin Bank Corporation’s delinquent, nonperforming, and uncollectible loans and thereby misrepresented Franklin Bank Corporation’s financial condition and results, including its overall and per-share profits and the fair market value of its residential mortgage loan portfolio.