Week Adjourned: 9.11.09

Corporate bling at banks lately?Top Class Actions

White collar lies? Another bank is facing a securities class action this week. This time it’s Pacific Capital Bancorp. The suit alleges that PCB and certain of its senior executive officers issued materially false and misleading statements and/or concealed material information relating to the Company’s reserves for losses on its loan portfolio, which, you guessed it, is in violation of the law. How unusual. 

If you have some of this stock in your portfolio or stashed away for retirement, check out when you purchased it. The class period for this case is between April 30 2009 and July 30 2009 (was anybody buying stock then?)

Top Settlements

Who says you can’t sue the government? More than 53,000 drivers in the Fargo, North Dakota area would argue, reasonably, that you can, and you can win… I love it… Continue reading “Week Adjourned: 9.11.09”