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Securities

Apr. 24, 2010

Countrywide Settles Class Action For $600 Million

Lawyers have struck a $600 million settlement agreement in a federal shareholder class action lawsuit against Countrywide Financial, several sources with knowledge of the deal have told the Daily Journal.

By Gabe Friedman

Daily Journal Staff Writer

LOS ANGELES - Lawyers have struck a $600 million settlement agreement in a federal shareholder class action against Countrywide Financial, under the broad terms of a still-confidential deal, several sources with knowledge of the deal told the Daily Journal.

The agreement would release the company and all former high-ranking executives, including former chief executive Angelo Mozilo, ...

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