Court OKs $624M payout to Countrywide investors (AP)
LOS ANGELES – Officials representing individual New York public grant assets feature a federal judge has cleared the artefact for a $624 meg deciding in a jural dispute brought by the assets on behalf of shareholders against fallen mortgage colossus Countrywide Financial Corp.
The New York State Common Retirement Fund and five New York City public grant assets said weekday U.S. District Judge Mariana Pfaelzer in Los Angeles authorised the settlement, a edition of which had originally been hammered discover last spring.
But some 33 super institutionalised shareholders, including the Calif. Public Employees' Retirement System, have announced they were opting discover of the deciding to oppose claims against Countrywide on their own.
Some $22.5 meg of the deciding was ordered divagation for up to digit eld toward forthcoming claims against Countrywide.
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