First BanCorp Ordered To Pay $74.25 Mln To Settle
Class Action News
[##_1L|1357141336.jpg|width="120" height="138" alt=""|_##]First BanCorp Holding Co. announced that the United States District Court for the District of Puerto Rico has issued preliminary order on August 1, 2007, asking the company to pay $74.25 million to settle a class action lawsuit filed by shareholders. First BanCorp said that $61 million settlement amount has to be deposited in a settlement fund within fifteen calendar days of the issuance of the preliminary order. The remaining settlement amount of $13.25 million will be paid before December 31, 2007, the company added.
The company noted that this class action lawsuit settlement will have no impact on earnings and capital in 2007, as it has accrued $74.25 million in 2005 for the potential settlement of the class action lawsuit.
Related listings
-
Homeless woman in class-action suit against Fresno dies
Class Action News 08/05/2007A homeless woman suing the city of Fresno over the destruction of homeless people's belongings during raids on thier camps has died just days after the lawsuit gained class-action status. Pamela Kincaid, 51, died Wednesday after friends said she fell...
-
ATRS, NY Firm Settle Class-Action Against PharmaNet
Class Action News 08/03/2007[##_1L|1383498465.jpg|width="120" height="138" alt=""|_##]Arkansas Teacher Retirement System and Bernstein Litowitz Berger & Grossmann LLP, a New York law firm, announced Thursday that they have settled, for a total of $28.5 million, the securiti...
-
Novartis Unit Faces U.S. Lawsuit
Class Action News 08/02/2007[##_1L|1207145630.jpg|width="120" height="138" alt=""|_##]A unit of Swiss drug company Novartis AG will have to defend itself against sex-discrimination claims brought by a group of women sales employees in a $100 million class-action lawsuit, a U.S....
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.