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23 Feb 2009, 12:53 am
  The subprime-related derivative litigation involving Countrywide was also dismissed, following Bank of America’s acquisition of Countrywide, based on the requirement that derivative plaintiffs must demonstrated continuing ownership in order to have standing to assert the derivative claim, as reflected here and here. [read post]
16 Feb 2009, 2:01 am
For example, John Devaney appears as a sort of a stand in for the whole hedge fund industry, and Lew Ranieri gets belated recognition for having fathered mortgage securitization. [read post]
5 Feb 2009, 1:39 am
These entities include mutual funds, private equity firms, hedge funds, and foreign firms whose shares do not trade on U.S. exchanges (e.g., Fortis and Société Générale). [read post]
29 Dec 2008, 1:23 am
" More5) The Mozilo e-mail: The now former Countrywide CEO mistakenly broadcasts his thoughts on a customer's plea for help with a home loan. [read post]
17 Dec 2008, 3:54 am
To be sure, the dismissal motions in the Countrywide subprime securities case (refer here) and the New Century Bankcorp subprime securities case (refer here) were both recently denied in strongly worded opinions. [read post]
9 Dec 2008, 4:20 am
Jurisdiction and Venue The plaintiff is a Mississippi public employee pension fund. [read post]
8 Dec 2008, 2:00 pm
The Countrywide ruling by Los Angeles federal district court judge Mariana Pfaelzer was not considered a big surprise, according to D&O Diary, because Judge Pfaelzer previously denied a motion to dismiss a separate Countrywide subprime derivative suit. [read post]
8 Dec 2008, 12:59 am
  Not only does the fund only have a $10 million D&O policy, but it is a "joint" policy, insuring not just the fund and its directors, officers and trustees, but also its investment advisor, its corporate parent, and other affiliated parties and person, many of whom are co-defendants with the fund and its directors and officers in the mass of investor lawsuits that have been filed. [read post]
23 Oct 2008, 6:42 pm
We currently represent three large state funds in a lawsuit against Countrywide Financial Corporation and its affiliates, underwriters, and responsible officers, for Securities Act and state law violations with respect to fifteen Countrywide RMBS and ABS offerings. [read post]
19 Oct 2008, 10:12 pm
Lahde, one of whose funds returned 870 percent last year by betting against subprime mortgages, decided to close down his funds and return money to investors after concluding that the danger of losing money from a bank collapse was too high. [read post]
14 Jul 2008, 8:57 pm
A NYT article notes: With $32 billion in assets, IndyMac, a spinoff of the Countrywide Financial Corporation, was the biggest American lender to fail in more than two decades.In the spirit of 1960's bumper stickers --Don't worry, they're still 90 miles away--, the Times article notes:But time may be running out for some small and midsize lenders. [read post]
9 Jun 2008, 2:09 am
The offerings were collateralized with loans originated and underwritten by Countrywide Home Loans. [read post]
26 May 2008, 8:58 am
There have been some lawsuits where the target company’s outside auditors have been named as defendants (for example, refer here regarding the amended complaint in the Countrywide subprime litigation where the companies’ auditors have been named). [read post]
16 May 2008, 3:44 pm
[JURIST] A federal judge ruled [PDF text] this week that a shareholder derivative lawsuit brought against the directors and officers of mortgage lender Countrywide Financial [corporate website] for misrepresenting its financial condition could proceed. [read post]
4 Apr 2008, 7:18 am
  (See the broad list by clicking here).Several months ago the Chapter 13 Trustee for this District filed substantially identical motions entitled Trustee’s Motion to Compel Countrywide Home Loans, Inc./ f/k/a Countrywide  Funding Corp. to Provide Loan Histories and for Sanctions in 293 separate cases in which Countrywide was a creditor. [read post]
26 Mar 2008, 5:15 am
Williams Jr. 213,500 Not exactly Countrywide levels, but awfully good pay for modest work. [read post]
24 Mar 2008, 1:18 pm
In addition to testimony from some experts on the state of the mortgage crisis and issues with executive pay (which was covered by Nell Minow of The Corporate Library), the hearing featured Angelo Mozilo from Countrywide, E. [read post]
23 Mar 2008, 8:31 pm
The rebuttal was filed in connection with the proposed acquisition by Legg Mason and various of its subsidiaries to acquire more than ten percent of Countrywide Financial Corporation's voting stock. [read post]