Wednesday, September 27, 2023
Courthouse News Service
Wednesday, September 27, 2023 | 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.

Categories / Uncategorized

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.