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.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.
Additional Reads
-
-
US says Russian warplane hits American drone over Black Sea March 14, 2023
-
UN chief calls for credible climate action, convenes summit December 19, 2022 -
