Sterne Agee: Lawsuit against former Sterne Agee board of directors to proceed

A recent ruling regarding a lawsuit filed against what was formerly Birmingham's largest, privately owned investment firm has pushed the case forward. The Alabama Supreme Court ruled 8-0 on Friday against a petition by Sterne Agee's former board of directors that included former CEO James Holbrook Jr. The petition was to appeal a decision that reversed a judgement dismissing shareholder's claims that alleged Holbrook breached his fiduciary duty to the company's shareholders by "misusing,...