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Sunday, July 14, 2024 | Back issues
Courthouse News Service Courthouse News Service

Shareholders Sue Regions Financial & Execs

BIRMINGHAM, ALA. (CN) - Directors of Regions Financial Corp. dumped $63 million of their own shares at artificially elevated prices while concealing the company's exposure to the subprime mortgage fiasco, shareholders claim in Federal Court. The complaint details the lucrative pay packages the 45 individual defendants received as the company lost $11.1 billion in market cap as its share price sank from $38 to $22.

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