Countrywide suit tentatively settled Formal hearing scheduled to be held in October By RANDALL CHASE Associated Press WILMINGTON, DEL. — A Delaware judge on Thursday granted preliminary approval of a proposed settlement in a shareholder lawsuit against mortgage lender Countrywide Financial Corp. Attorneys representing Countrywide shareholders in a federal lawsuit in California asked Vice Chancellor John Noble to reject the settlement, but Noble said he saw no reason to rule now on preliminary objections by one group of shareholders, when all shareholders will be given the opportunity to weigh in later. "In essence, I'm being asked to reject or derail the settlement before it can be fully considered," the judge said in a telephone conference with attorneys. A formal hearing on the settlement was tentatively scheduled for late...
[read full story]
Your Web Site
