Litigation

Recent Posts

Countrywide Financial Corp. Reaches $500 Million Settlement In 3 Mortgage-Backed Securities Class Actions
Posted on 17 Apr 2013 by Timothy Raub

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... Read More

Tags: Securities Act of 1933 , Western Conference of Teamsters Pension Plan v. Countrywide Financial Corp. , CAFA , Countrywide Financial Corp. , MBS , financial services , class action , securities litigation , mortgage-backed securities , Litigation , David H. Luther v. Countrywide Financial Corp. , Settlement , Class Action Fairness Act , Maine State Retirement System v. Countrywide Financial Corp.

Countrywide Agrees To Pay $335 Million To Settle Government's Discriminatory Lending Claims
Posted on 23 Dec 2011 by Shane Dilworth

LOS ANGELES - Countrywide Financial Corp. has agreed to pay $335 million to settle claims by the U.S. government that the lender and its subsidiaries engaged in discriminatory lending practices by steering African-American and Hispanic borrowers toward... Read More

Tags: mortgage , Countrywide Financial Corp. , United States of America v. Countrywide Financial Corp. , financial services , lender , U.S. Department of Justice , Litigation , Settlement , Subprime , lending

$624 Million Proposed Settlement Announced In Countrywide Securities Class Action
Posted on 7 May 2010 by Dylan McGuire

LOS ANGELES — (Mealey’s) The lead plaintiffs in a consolidated class action complaint against former subprime mortgage lending giant Countrywide Financial Corp. (CFC) and others for alleged violations of federal securities laws announced a... Read More

Tags: In re Countrywide Financial Corp. Securities Litigation , Countrywide Financial Corp. , class action , New York State Common Retirement Fund , KPMG , CFC , securities fraud , Securities Exchange Act , Countrywide , Securities

U.S. Government Hits Bank Of America With $1 Billion Lawsuit Over Lending Program
Posted on 24 Oct 2012 by Timothy Raub

NEW YORK - (Mealey's) The U.S. government on Oct. 24 filed a $1 billion lawsuit against Bank of America Corp., as successor for Countrywide Financial Corp., alleging that Countrywide violated provisions of the False Claims Act by engaging in a scheme... Read More

Tags: Freddie Mac , False Claims Act , Countrywide Financial Corp. , the 'Hustle' , mortgage lending , Preet Bharara , financial services , Litigation , Fannie Mae , United States of America v. Bank of America Corp. , loans , Bank of America