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Securities

Apr. 9, 2009

Ex-Countrywide CEO Mozilo Still On Hook

A federal judge dismissed all insider trading allegations against former Countrywide Financial Corp. executives except for former CEO Angelo Mozilo, finding the pattern of his trades were "unusual" enough to let the claim stand.

By Gabe Friedman
Daily Journal Staff Writer

LOS ANGELES - A federal judge has tossed out all insider trading allegations against former top executives of Countrywide Financial Corp. except for the company's former chairman and chief executive, Angelo Mozilo, in an ongoing securities class action.

In March, the Daily Journal reported that the Securities and Exchange Commission is considering filing charges against Mozilo because he repeatedly modif...

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