Countrywide Investors Get Class Cert. In $2.5B MBS Suit

Law360, New York (November 22, 2011, 1:18 PM EST) -- A California federal judge on Monday certified a class in a suit alleging Countrywide Financial Corp. misled investors when they purchased eight groups of mortgage-backed securities worth about $2.46 billion.

U.S. District Judge Mariana R. Pfaelzer's approval of the class follows a late September agreement between the plaintiffs and Countrywide governing the makeup of the class, which will include all investors who purchased shares of the eight securities of Countrywide MBS before Jan. 14, 2010.

The two sides agreed to the stipulation governing class certification as...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Maine State Retirement System v. Countrywide Financial Corporation et al


Case Number

2:10-cv-00302

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Date Filed

January 14, 2010

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.