Fifth Third To Pay $16M To End Subprime Crisis Suit

Law360, New York (April 16, 2013, 8:44 PM EDT) -- Fifth Third Bancorp and a slew of related defendants are set to settle for $16 million a long-running investor suit that accused the bank of making an aggressive push into the subprime market while telling investors it was playing it safe.

In the settlement, Fifth Third and the other defendants admit no wrongdoing, fault, liability or damages and both parties agreed that continuing to slug the case out in court would just be a difficult, long and costly process, according to an unopposed motion the plaintiffs...
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