securities litigation

Sub-Prime Problems Go Countrywide

New York Times: Judge Says Countrywide Officers Must Face Suit by Shareholders. Directors and officers of Countrywide Financial, the beleaguered mortgage lender, must answer shareholder accusations of insider trading and an overall failure to monitor lending practices that led to the company’s collapse, a federal judge in California has ruled.

I’ve added Countrywide Financial Corp. contracts to the website, including the Investment Agreement between Countrywide Financial Corp. and Bank of America.


Rackspace Serving Up IPO Plans

GigaOM: RackSpace IPO Filing Hints at Expansion Plans. Data center and hosting provider RackSpace Inc., has filed to raise up to $400 million in an initial public offering. Its financials seem generally sound (unlike many tech companies it’s actually profitable), although profits did drop by 10 percent in the last year.

I’ve added Rackspace Inc. contracts. Rackspace had included several employment agreements and economic development agreements in its filings.