PFF Execs Strike $8M Deal To End Securities Suit

Law360, New York (January 23, 2012, 2:34 PM EST) -- Two former PFF Bancorp Inc. executives and an insurer on Friday asked a Delaware bankruptcy court to approve a proposed $8.25 million settlement with a class of thousands of PFF investors claiming they were deceived about risky lending practices.

The proposed deal would resolve a suit in which a slew of named plaintiffs including Oregon Laborers Pension Trust Fund accused former PFF CEO Kevin McCarthy and former chief operating officer Gregory Talbott of artificially inflating the company’s stock price and defrauding shareholders through various false and...
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