And lawyers are all over busily digging its grave!
Will it ever rest in peace after all the pain and suffering it has inflicted upon so many?
Can it ever rest in peace after providing so much grease to the wheels of the world financial crisis?
The First American Corporation: I was # 1, once upon a time. The first will be last and the last will be first. How true!
But vanity of vanities - All is but vanity! What did the First American Corporation executives gain by their vain greed?
News of Note from Stanford Law School – Securities Class Action Clearinghouse in cooperation with Cornerstone Research:
“On September 18, 2008, Judge Lewis A. Kaplan granted the motion to appoint the Berks County Employees' Retirement Fund as Lead Plaintiff and further approved their selection of Grant & Eisenhofer P.A. as Lead Counsel.
Named as defendants are First American, the Company's Chief Executive Office and Chairman of the Board, as well as the Company's Vice Chairman and Chief Financial Officer.
The Complaint alleges that, during the Class Period, First American and certain of the Company's officers and directors engaged in an illegal scheme with Washington Mutual, Inc. ("WaMu"), whereby the defendants, through First American's real estate subsidiary, eAppraiseIT LLC, prepared artificially inflated appraisals of homes for use in connection with mortgages issued by WaMu. During the Class Period, in quarterly earnings reports, the Company's management reported increased earnings from appraisal fees and reassured investors that internal controls were adequate. The Complaint alleges that First American's fees from the improper appraisals resulted in the Company overstating its gross profit margins and net income during the Class Period and that throughout the Class Period the defendants made false and misleading statements regarding the Company's internal controls and financial performance.”
Habit dies hard! Posts throughout www.lleclezio.blogspot.com establish that fraud and misleading statements are a systemic way of life at FAF exec level!
Will it ever rest in peace after all the pain and suffering it has inflicted upon so many?
Can it ever rest in peace after providing so much grease to the wheels of the world financial crisis?
The First American Corporation: I was # 1, once upon a time. The first will be last and the last will be first. How true!
But vanity of vanities - All is but vanity! What did the First American Corporation executives gain by their vain greed?
News of Note from Stanford Law School – Securities Class Action Clearinghouse in cooperation with Cornerstone Research:
“On September 18, 2008, Judge Lewis A. Kaplan granted the motion to appoint the Berks County Employees' Retirement Fund as Lead Plaintiff and further approved their selection of Grant & Eisenhofer P.A. as Lead Counsel.
Named as defendants are First American, the Company's Chief Executive Office and Chairman of the Board, as well as the Company's Vice Chairman and Chief Financial Officer.
The Complaint alleges that, during the Class Period, First American and certain of the Company's officers and directors engaged in an illegal scheme with Washington Mutual, Inc. ("WaMu"), whereby the defendants, through First American's real estate subsidiary, eAppraiseIT LLC, prepared artificially inflated appraisals of homes for use in connection with mortgages issued by WaMu. During the Class Period, in quarterly earnings reports, the Company's management reported increased earnings from appraisal fees and reassured investors that internal controls were adequate. The Complaint alleges that First American's fees from the improper appraisals resulted in the Company overstating its gross profit margins and net income during the Class Period and that throughout the Class Period the defendants made false and misleading statements regarding the Company's internal controls and financial performance.”
Habit dies hard! Posts throughout www.lleclezio.blogspot.com establish that fraud and misleading statements are a systemic way of life at FAF exec level!
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