Securities Law

Ex-Countrywide VPs Admit Wrongdoing

Three former vice presidents of Countrywide Financial Corp. have agreed to plead guilty to securities fraud, according to federal prosecutors in Los Angeles.

A statement says Alan Cao, Quan Zhu and Jun Shi admitted to trading based on inside knowledge that the company’s financial results would fall short of expectations, the Wall Street Journal reports.

EEOC Sues Merrill Lynch

Tipster Protection Bill Passes

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