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Countrywide Settles Mortgage-Related Shareholder Lawsuit For $600Mill

Posted By Regan Zambri & Long || 6-Aug-2010

Posted by: Salvatore J. Zambri, founding partner

                                                                                                                    

The Los Angeles Times (8/3, Reckard) reports, "Countrywide Financial Corp., which epitomized the home-loan industry’s boom and bust, has agreed to pay $600 million in the largest settlement yet of shareholder lawsuits stemming from the mortgage meltdown. The agreement, given preliminary approval Monday by US District Judge Mariana Pfaelzer in Los Angeles, would end several class actions brought on behalf of investors in Countrywide stock." The settlement "also would clear the liability of a list of financial firms that underwrote the Countrywide stock offerings and were named as defendants."

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About the author:

Mr. Zambri is a board-certified civil trial attorney by the National Board of Trial Advocates and a Past-President of the Trial Lawyers Association of Metropolitan Washington, D.C. He has been rated by Washingtonian magazine as a "Big Gun" and among the "top 1%" of all lawyers in the Washington metropolitan area. The magazine also describes him as "one of Washington’s best–most honest and effective lawyers" who specializes in personal injury matters, including automobile accident claims, premises liability, product liability, medical malpractice, and work-accident claims.  Mr. Zambri has also been named a "Super Lawyer" by Super Lawyer magazine (March/April 2010)–a national publication that honors the top lawyers in America.

If you have any questions about your legal rights, please email Mr. Zambri at szambri@reganfirm.com or call him at 202-822-1899.

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