Accredited Creditors Stop Objecting To $22M Deal

Law360, New York (August 21, 2009, 1:50 PM EDT) -- The committee of unsecured creditors in Accredited Home Lenders Holding Co.’s bankruptcy has withdrawn its objection to the company's $22 million settlement in a long-running securities class action.

The unsecured creditors did not give a reason for the withdrawal of their objection in a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware. The objection was filed Monday.

The original cause of the objection, however, was a concern that the settlement with a class of securities plaintiffs who claimed that the subprime...
To view the full article, register now.