Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, October 31, 2007

Countrywide CEO Sued Over Stock Repurchases

A pension fund filed a shareholders derivative suit against Countrywide Financial CEO and 13 current and former directors in California.  The suit alleges that the corporation repurchased $2 billion of its shares in order to allow executives to sell $842 million of their personal holdings at inflated prices from April to October 2007.  NYTimes, Pension Fund Sues Countrywide Officers.

News Stories | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference Countrywide CEO Sued Over Stock Repurchases:


Post a comment