Judge Dismisses Case Against Calif. Lender

28 Aug 2009

A U.S. district judge in Los Angeles has tossed a shareholder class action against the management of Downey Financial Corp., a California mortgage lender that filed for liquidation last November.

A U.S. district judge in Los Angeles has tossed a shareholder class action against the management of Downey Financial Corp., a California mortgage lender that filed for liquidation last November. Legal experts say it is the first case in which a court has dismissed with prejudice a suit ...

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