Thursday, September 21, 2023
Courthouse News Service
Thursday, September 21, 2023 | Back issues
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Subprime Fiasco Spawns Another Lawsuit

COLUMBUS, OHIO (CN) - Shareholders claim Huntington Bancshares and its CEO Thomas Hoaglin pumped the share price by hiding its exposure to subprime mortgage investments: specifically, paying $3.3 billion to buy Sky Financial in July 2007 despite Sky's $1.5 billion of exposure to shaky subprime loans.

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