Countrywide to pay $600 million to New York pension funds

Mark Sands
02 Jun 2010

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

NEW YORK – Countrywide Financial has settled its lawsuit with New York Common Retirement Fund and New York City Public Pension Funds with a $624 million payout. The suit accused Countrywide of making misleading statements and omitting facts about its procedures. In doing so, it was alleged it exposed investors to excessive and undisclosed risk

The mortgage bank, now owned by Bank of America, will pay $600 million, with its auditor KPMG paying the remaining $24 million.

Countrywide issued a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]