washington mutual shareholders win 208 million
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Washington Mutual shareholders win $208 million

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Washington Mutual shareholders win $208 million

Washington - AFP

Former Washington Mutual executives have agreed to pay $208.5 million to settle a lawsuit launched by a group of investors after the bank\'s failure in 2008, the largest ever of its kind. The bank leaders, among them former Washington Mutual chairman Kerry Killinger, ex-chief operating officer Stephen Rotella and the company’s former home loans president David Schneider, will pay a total of approximately $105 million, said the document presented Thursday at a federal court in Seattle. According to the preliminary agreement, investment banks and brokerages with ties to Washington Mutual including Goldman Sachs, Morgan Stanley, Credit Suisse, UBS and Deutsche Bank will contribute $85 million. The auditing firm Deloitte & Touche will pay $18.5 million. In exchange, the plaintiffs, led by Canada\'s Ontario Teachers Pension Plan board, agreed to withdraw their complaint made in an attempt to recover some of the hundreds of millions of dollars of losses they blamed on the bank\'s misleading and false claims. On September 25, 2008, the Federal Deposit Insurance Corporation seized Washington Mutual\'s flagship bank in Seattle and facilitated its sale to JPMorgan Chase for $1.9 billion. JPMorgan took over the assets and liabilities of the two banking subsidiaries of the group, but the deal excluded the capital (with a market value of $2.9 billion) and the debt supported by the holding company ($14.4 billion). The settlement agreement is still subject to court approval.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

washington mutual shareholders win 208 million washington mutual shareholders win 208 million

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

washington mutual shareholders win 208 million washington mutual shareholders win 208 million

 



GMT 15:05 2017 Thursday ,08 June

UAE Weather: Temperature set to touch 46°C today

GMT 09:21 2012 Friday ,13 April

Chances of rain in the UAE

GMT 18:01 2011 Saturday ,12 November

Masdar set to launch Seychelles wind farm by end-2011

GMT 17:11 2017 Sunday ,19 November

South Africa eyes 2023 Rugby World Cup

GMT 21:22 2017 Saturday ,10 June

Moroccan minister

GMT 07:28 2017 Tuesday ,07 November

Now,Dubai cafes introduce special food

GMT 12:38 2016 Monday ,14 November

2016 'very likely' hottest year on record

GMT 08:03 2017 Thursday ,02 November

Abdou blames targeting Khan Yonis

GMT 10:51 2017 Thursday ,23 March

Fire damages historic Ottoman mosque in Greece

GMT 05:14 2024 Wednesday ,07 February

Sophisticated Classic Dining Room Design Ideas

GMT 00:14 2017 Friday ,13 October

Army kills mercenaries in Kahbob, Lahj

GMT 19:04 2017 Thursday ,08 June

Qatar sympathisers in Bahrain to face fine, jail

GMT 14:29 2017 Wednesday ,02 August

Man City winger Navas returns to Sevilla

GMT 10:51 2017 Friday ,26 May

Labour Minister meets Thai envoy
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice