Bank of America y KMPG demandados por el Fondo Soberano Noruego
Hala...
A correr...
Vais a sangrar todas auditoras corruptas.
A ver si ahora tiene narices Buffet de seguir comprando...:)
Que este banco se va al garete por estafa y fraude.
Pension Fund chief Yngve Slyngstad suing mortgage company Country-wide, the owner Bank of America and KPMG in the U.S. for fraud, newspaper Dagens Næringsliv.
Billions are at the game.
The Fund and 14 other large institutional investors meetings the parties to a court in California.
They claim that Countrywide - formerly the largest U.S. lender for residential purposes - held back important information and concealed the extent of credit risk that the company took. The company was one of the largest lending founders of so-called subprime loans, which was a major cause of financial crisis.
Because of the misrepresentation of the company and senior management, bought the oil fund and other investors in Countrywide shares at artificially high prices from March 2004 to March 2008, according to the fund.
Angelo Mozilo and two other former directors sued as well. They should have enriched himself personally by selling shares of "several hundred million dollars" based on information that was not available in the market.
The company's auditor KPMG and Bank of America, which bought the company in 2008, accused in the lawsuit.
"Countrywide's shares traded as high as $ 45 2 februar 2007. February 2007. Just over a year later was the stock down by about 90 percent, which caused investors billions of dollars in losses, "the oil fund's press spokesperson Bunny Nooryani in an email.
She would not identify the values ??at stake.
The Fund reported last year, the requirements in 50 different cases pending before courts, but rarely direct legal action themselves. It shows the Fund's annual report for 2010, according to Dagens Næringsliv.
