Arkansas Blog: Not on Countrywide's side UPDATE

« Oh, woe is us | Main | The choice lobby divided »

Not on Countrywide's side UPDATE

I'd missed that the Arkansas Teacher Retirement System was the lead plaintiff in the shareholders lawsuit over the collapse of Countrywide Financial. Article doesn't say how big a bath ATRS took. A judge has ordered officers and directors to answer the complaint about insider trading and other mismanagement. Arkansas Business has order here.

UPDATE: I now have the figures on ATRS' investment in Countrywide. (I feel their pain. A mutual fund in which I have invested that is managed by a college friend of mine -- long a market beater -- has turned very sour the last couple of years. One of the fund's big losers was none other than Countrywide.)

As of Dec. 31, the System had 759,000 shares of Countrywide. They were worth $6.78 million. The shares had cost ATRS $22.5 million, a decline in value of almost $16 million.

Posted by Max Brantley on May 15, 2008 08:12 AM | Permalink

Comments

I wonder if those shares in Countrywide were approved by any of those 'five good agressive' (sic) workers that StrangeTimes was touting in the earlier thread on cell phones?

Posted by: 70%er | May 15, 2008 09:04 AM

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Name:

Email Address:

URL:

Remember personal info?

Comments: The only required information is the comment itself. If you supply a URL it will be displayed. Email will not be displayed.

Hit with a board
Date: 8/14/2008
By: David Koon
The second Friday of every month, John McNeill gets in his truck and makes the drive from Hot Springs to Little Rock for the Arkansas State Contractors Licensing Board meeting. /more/

Hardin's expense account
Date: 8/14/2008
By: Arkansas Times Staff
It came as something of a surprise when the University of Central Arkansas reported in a state Higher Education Department pay survey that President Lu Hardin's benefits included a $57,000 annual expense account financed by the UCA Foundation. /more/

Try the tofu
Date: 8/14/2008
By: Arkansas Times Staff
An Arkansas politician is expected to eat the coon just as a follower of Jim Jones was expected to drink the Kool-Aid - no hesitation, no excuses. /more/

Home / Blogs / This Week / Entertainment / Real Estate / Classifieds / Subscribe / Contact