"We believe that they knew that it became ... a risky investment," attorney Steve Berman, the attorney who is representing plaintiffs, said Wednesday. Caution! Countrywide stocks falling again! Due to the instability in the mortgage market sector on Tuesday "Countrywide shares declined 31 cents, or 1.8 percent, to $16.57, in afternoon trading. The company's shares have plunged from a 52-week high of $45.26 in January to a low of $15 in mid-August", according to an article at AOL Money & Finance.
For relocation and general information (including school information, crime statistics and more)about Athens, Georgia and the surrounding area including Madison County, Jackson County, Barrow County, Oconee County and Oglethorpe County, Georgia, see the other post on our community blog at All About Athens GA.
706-207-2502 cell 706-543-1553 office Michelle@SuccessRealtyGa.com Success Realty website
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After last week's announcement of 
Magdalena Dokic - Indialantic, FL
Selling the beach in Florida's space coast
Michelle, thanks for the update. You would think if Countrywide had told their employees anything they knew and all their employees dumped their stock in a massive sell-off, then when the proverbial doo-doo hit the fan and the stock plummeted anyway, Countrywide would have been sued by the remaining stockholders for insider trading. Dammed if they do, dammed if they don't. I don't think this suit will provide any relief to the plaintiffs. But it probably makes them feel better thinking it will. Ahhhh such is life.
Sep 13, 2007 05:32 AM
Orlando Area Real Estate Services - Orlando, FL
Actually this story came out on Tuesday, but I think it's important to keep reminding people. Click here.
Sep 13, 2007 05:34 AM
Magdalena Dokic - Indialantic, FL
Selling the beach in Florida's space coast
Oh, I forgot to mention, Warren Buffet was said to have been picking up Countrywide stock to add to his holdings of Wells Fargo and Bank of America. I think I may borrow some money and follow suit. =)
Sep 13, 2007 05:34 AM
US Bank - Scottsdale, AZ
Honestly Maggie is right. Things like this are bad no matter how you look at it. It's even worse however when the CEO seems to have known about it over a year ago when he began dumping his own stock. You aren't hearing of anything about that though are you? The whole thing is just awful if you ask me.
Sep 13, 2007 05:51 AM
The Nichols/Ersery Home Team, RE/MAX Heartland - Lee's Summit, MO
Leenulls Summit Real Estate
RE/MAX Signature Properties - Harrisburg, NC
ABR, CDPE, CRS, GREEN, SFR, SRES
This situation is sad on all sides. I agree with Maggie. the company can't tell the employees the stock is going down the tubes. The employees must be keeping up with the news just like the rest of us (and probably two steps ahead of the rest of us).
Sep 13, 2007 05:52 AM
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing
oh my goodness gracious. This is sort of like an Enron isn't it. Bad stuff. Thanks for sharing. I think that we are all watching Countrywide - sort of the Real Estate Spectator Game!
Sep 13, 2007 06:31 AM
Success Realty - Athens, GA
Broker Athens, GA
Maggie - you got it exactly.
Simon - I know, but I've been behind for weeks, to only be two days behind is now a relief for me!
Jacob - the state of the entire industry is sad right now.
Sep 13, 2007 05:33 PM
Success Realty - Athens, GA
Broker Athens, GA
David - we'd either wind up rich or flat broke, lol.
Virginia - makes me glad I'll not an employee - moral has to be very poor.
Kate - thanks for visiting - I wonder what they'll annouce next week?
Sep 13, 2007 05:35 PM
Rainmaker
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Michelle DeRepentigny
Broker Athens, GA
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