AHM To Pay Unit Execs $5M To Settle Securities Suit

Law360, New York (August 14, 2009, 6:47 PM EDT) -- American Home Mortgage Holdings Inc. and its creditors committee have asked for court approval of a $5 million payment to the former directors and officers of its AHM Investment unit as part of a settlement of a securities class action against the leaders of the bankrupt mortgage financing firm.

AHM and the creditors filed the joint motion for approval of the deal in the U.S. Bankruptcy Court for the District of Delaware on Thursday.

The lender and the plaintiffs in the securities action asked the bankruptcy...
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