Not on Countrywide's side UPDATE | Arkansas Blog

Thursday, May 15, 2008

Not on Countrywide's side UPDATE

Posted By on Thu, May 15, 2008 at 8:12 AM

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.


Sign up for the Daily Update email
Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

  • Where's the outrage?

    Am I the only person, apart from federal prosecutors, outraged about the criminal enterprise that inveigled itself into a privileged position as an Arkansas taxpayer-financed human services provider to the tune, today, of $43 million a year?
    • Jun 21, 2018
  • Where's the outrage?

    • Jun 21, 2018
  • Rutledge opponent hits her socializing with corporate interests

    Mike Lee, the Democratic candidate for attorney general, has criticized Attorney General Leslie Rutledge over recent reports of her participation at private meetings where corporate interests make big contributions to a political group she heads for access to state legal officers.
    • Jun 21, 2018
  • More »

Readers also liked…

Most Viewed

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation