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Countrywide might have intentionally mislead its own employees about its financial situation causing huge losses in Countrywide's 401(K) plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Misrepresentation
- Investments
- Unsuitable Investments
- Retirement Asset
- Investment Advisor Duties
Product or Service
- 401(K)
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action lawsuit against Countrywide and all those responsible for overseeing the employees' retirement plan claiming the organization acted illegally causing thousands of 401(k) plan participants to lose millions of dollars during the recent stock collapse.
The class action lawsuit alleges that Countrywide intentionally misled investors and kept Countrywide finances from employees in an effort to keep employees invested in Countrywide stock.
The class action lawsuit alleges that Countrywide intentionally misled investors and kept Countrywide finances from employees in an effort to keep employees invested in Countrywide stock.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Countrywide Financial Corporation | Countrywide Financial Corporation originates, services and resells home loans. It is owned by Bank of America. |