Countrywide Faces New Allegations

Posted by Plus Master at 12:04 PM
 

New allegations have been added to a class action suit pending against Countryside Financial Corporation.

The complaint has been amended to include allegations that Countrywide "distorted industry definitions of prime and subprime borrowers and mortgages to mislead uninformed investors" about the nature of its business. The suit also contends that Countrywide executives engaged in insider trading, selling shares while simultaneously encouraging other investors to buy or hold the stock.

Learn more about the additional allegations here on the Nashville Business Journal Website.

POSTED IN Subprime Fallout

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