Ex-Thornburg Execs Smooth Out Shareholder Beef For $2M

Law360, New York (April 17, 2012, 9:16 PM EDT) -- Investors sought to wrap up a class action against bankrupt mortgage lender TMST Inc. on Monday, reaching a tentative $2 million settlement that would end nearly five years of litigation between shareholders and executives including former CEO Larry A. Goldstone.

Filed in New Mexico federal court by shareholder W. Allen Gage and other plaintiffs, the unopposed motion seeks preliminary approval to settle the action first brought in 2007 against executives of what was then known as Thornburg Mortgage Inc. The suit accused the company and certain...
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