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Monday, July 15, 2024 | Back issues
Courthouse News Service Courthouse News Service

Shareholder Class Actions

Shareholders of Countrywide Financial claim Angelo Mozilo and other officers wasted more than $2 billion of corporate assets to prop up share price in a repurchase plan, so Mozilo and other insiders could dump $842 million of their own shares at inflated prices.

Here are the defendants in Los Angeles Superior Court: Angelo R. Mozilo, David Sambol, Carlos M. Garcia, Ranjit M. Kripalani, Andrew Gissinger, III, Stanford L. Kurland, Sandor E. Samuels, Eric P. Sieracki, Oscar P. Robertson, Michael E. Dougherty, Ben M. Enis, Edwin Heller, Robert J. Donato, Jeffrey M. Cunningham, Harley W. Snyder, Henry G. Cisneros, Martin R. Melone, Keith P. Russell, Robert T. Parry, Kathleen Brown, KPMG LLP, and nominal defendant Countrywide Financial Corp.

Shareholders claim Ericsson LM Telephone Co., Carl Henric Svanberg and Karl-Henrik Sundstrom inflated Ericsson share price through false and misleading statements, in Manhattan Federal Court.

Shareholders claim BankAtlantic Bancorp misrepresented its finances, in Fort Lauderdale Federal Court.

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