LexisNexis® Legal Newsroom
Schwab Settles Fund Lawsuit For $200 Million

SAN FRANCISCO – (AP) Charles Schwab will pay $200 million to resolve a federal class action lawsuit filed by investors who say the financial holding company misled them over the safety of mortgage-backed securities. If approved by the court, the settlement announced Tuesday will result in a retroactive...

Countrywide Financial Corp. Reaches $500 Million Settlement In 3 Mortgage-Backed Securities Class Actions

LOS ANGELES - (Mealey's) Countrywide Financial Corp. will pay $500 million to shareholders in three related securities class action lawsuits to settle claims that it misrepresented the investment quality of mortgage-backed securities (MBS) in what is being called the largest-ever MBS class action...