Friday, May 8, 2009

Shareholder Sues First American Corp

From Courthouse News Service:

First American Corp. provided 260,000 false and inflated appraisals to Washington Mutual in the past 2 years, inflating its own share price through false and misleading statements, according to a shareholder derivative class action. The class claims First American did this through its subsidiary, eAppriaseIT.

Copy of suit HERE


Anonymous said...

Interesting news on First American...yet the government will stand by it's decision on HVCC because "AMCs are a proven business model to protect the public". B.S.