Countrywide Told To Hand Over Docs In Options Probe

Law360, New York (October 4, 2007, 12:00 AM EDT) -- An institutional shareholder that accused embattled mortgage lender Countrywide Financial Corp. of suspicious options-granting practices has won the first round in its battle with the company, with a judge ordering Countrywide to turn over its books.

On Tuesday, Vice Chancellor John Noble of the Delaware Chancery Court ordered Countrywide to allow the Louisiana Municipal Police Employees' Retirement System access to its financial records. LAMPERS had petitioned for access to the documents on the grounds that it suspected Countrywide of manipulating options grants to its officers and...
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