Chief Executive Angelo Mozilo

NEW YORK (Reuters) - Bank of America Corp <BAC.N> was sued by 15 former Countrywide Financial Corp institutional investors who said they lost money after being misled about the mortgage lender's financial condition and lending practices.BlackRock Inc <BLK.N>, the California Public Employees' Retirement System (CalPERS), T Rowe Price Group Inc <TROW.O>, TIAA-CREF and the other plaintiffs, including some in Europe, sued in Los Angeles federal court, after deciding not to join a $624 million settlement that won...Read Full Story

SAN FRANCISCO (Reuters) - The Securities and Exchange Commission received the go-ahead to take former Countrywide Chief Executive Angelo Mozilo and two other former Countrywide executives to trial, a federal judge in Los Angeles ruled on Thursday.In one of the highest profile enforcement actions to arise out of the recent financial collapse, the SEC accused Mozilo, former Countrywide President David Sambol and former Chief Financial Officer Eric Sieracki of failing to disclose the true state...Read Full Story

The Securities and Exchange Commission announced that Angelo Mozilo will pay a 22.5 million dollars penalty and repay 45 million dollars in company profits, in what was the largest-ever financial penalty paid to the SEC by a top executive.Two other top Countrywide executives, David Sambol and Eric Sieracki, also agreed to pay hundreds of thousands of dollars to settle the charges.The SEC alleged that the three failed to disclose to investors the significant credit risk that Countrywide was...Read Full Story

BANGALORE (Reuters) - Securities and Exchange Commission (SEC) and former Countrywide Financial Corp Chief Executive Angelo Mozilo are in discussions to settle the civil fraud case, the Wall Street Journal said, citing people familiar with the matter.SEC had accused Mozilo, former Countrywide President David Sambol and former Chief Financial Officer Eric Sieracki of failing to disclose the true state of Countrywide's deteriorating mortgage portfolio.Attorneys for the defendants have denied...Read Full Story

ReutersSEC, Mozilo in talks to settle civil fraud case - WSJReutersOct 15 (Reuters) - US Securities and Exchange Commission (SEC) and former Countrywide Financial Corp Chief Executive Angelo Mozilo are in discussions to settle the civil fraud case, the Wall Street Journal said, citing people familiar with the matter. ...PRESS DIGEST - Wall Street Journal - Oct 15ReutersCountrywide's Angelo R. Mozilo in talks to settle SEC charges, sources sayLos Angeles TimesSettlement May Be Near in...Read Full Story