First Foundation Has Board Deal With Driver, Ending Court Fight

First Foundation Inc. agreed to end litigation over its board nomination deadline by letting stockholders vote on a director candidate put forward by a Driver Management Co. affiliate.

The financial services company announced the settlement Friday, saying it will let Driver nominee Allison Ball stand for election but urging investors to vote her down. “She lacks the necessary experience, qualifications, and decorum required of a director,” according to First Foundation’s statement.

The agreement resolves legal claims that the investment firm—run by activist Abbott Cooper, who focuses on the banking sector— filed in March. The deal, dated April 25 and ...