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Who knows....It makes you wonder since we are so close to the finish line.
Scott+Scott Attorneys at Law LLP Announces Investigation of Mr. Cooper Group Inc.’s Directors and Officers for Breach of Fiduciary Duties – COOP
December 17, 2020 10:12 AM Eastern Standard Time
https://www.businesswire.com/news/home/20201217005720/en/ScottScott-Attorneys-at-Law-LLP-Announces-Investigation-of-Mr.-Cooper-Group-Inc.%E2%80%99s-Directors-and-Officers-for-Breach-of-Fiduciary-Duties-%E2%80%93-COOP
NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Mr. Cooper Group Inc. (“Mr. Cooper”) (NASDAQ: COOP) breached their fiduciary duties to Mr. Cooper and its shareholders. If you are a Mr. Cooper shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether Mr. Cooper’s Board of Directors or senior management failed to manage Mr. Cooper in an acceptable manner, in breach of their fiduciary duties to Mr. Cooper, and whether Mr. Cooper has suffered damages as a result.
On April 24, 2018, the Consumer Financial Protection Bureau (the “CFPB”) notified Nationstar Mortgage Holdings Inc. (“Nationstar”), the predecessor to Mr. Cooper, of an investigation into Nationstar’s mortgage practices from 2012-2015 under several federal statutes. On December 8, 2020, the CFPB, in collaboration with 50 state attorneys general and 53 state mortgage regulators, announced a $91 million dollar settlement with Mr. Cooper to resolve the investigation.
What You Can Do
If you were a Nationstar shareholder and remain a Mr. Cooper shareholder, you may have legal claims against Mr. Cooper’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
Attorney Advertising
Contacts
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com
Not at all. You can post anything you want on this board as long as it is within the rules.
I think if you are going to post the negative messages concerning escrow then you should produce the documentation supporting your facts just like you are asking AZ to do. What is your valid source to back your opinions outside of the fact that dates stated have past with no dollars.
Hi AZ,
Appreciate all your work in informing the board of all the legal actions for WMIH/COOP. What I don't understand is if we are this close to receiving from the entities responsible for distribution why have there been no communications from them. It still seems we are still in the dark concerning when this is going to happen. It's been stated EOY but do we know for certain?
As usual no confirmed date as to when we will news from the people in charge of the money?
Yes it would be nice. I want to buy a home to be closer to my grand kids.
Link please.
FYI..... State of Alaska thinks COOP is a good buy...
State of Alaska Department of Revenue Acquires Shares of 68,010 Mr. Cooper Group Inc (NASDAQ:COOP)
Posted by Max Byerly on Oct 13th, 2020
https://www.tickerreport.com/banking-finance/6472407/state-of-alaska-department-of-revenue-acquires-shares-of-68010-mr-cooper-group-inc-nasdaqcoop.html
Royal Dude
Re: hotmeat post# 629674 0
Post # of 629688
You Both (PICKstock and HM) should be ashamed and should be held accountable for misrepresentation of what is the true reality of the restructuring of WMIH and the realignment of the banks in this major theft that took place in 2008. Just more of the same brainwashing with no dd to support anything you say just more and more of the same BS.
Royal Dude....You are the one that should e ashamed because you have posted for years concerning the dates that escrow is to be paid and nothing has happened yet. You are the one that should be held accountable for misrepresentation of what is the true reality for escrow. All HT and Pickstock is doing is challenging what you are posting which ends up being not true regardless of YOUR DD. What you are doing is what we call the "pot calling the kettle black." I'm outta here....BYE to this MB.
So true....So true.
I just wish the ones in control would consider the years this has lasted and do all possible to close this out quickly.
Just how many years have we heard something like that ?
Many years. I hope that if nothing happens that a certain person will stop posting speculations instead of facts.
Hope we hear something about escrow. According to RDs message he is saying something is going to happen between now and August 14th.
Royal Dude
Re: stoxjock post# 629545 0
Post # of 629580
I am very fortunate to watch what I think to be a historic event. I do not want to do or say anything that will stop this from happening(not that I could).
Does that mean the shorts will be covering their positions.
I thought the pre r/s value was $18.00.
RD....Not sure what this has to do with us. Can you explain?
ITEM 5.04 Temporary Suspension of Trading Under Registrant’s Employee Benefit Plan.
On July 8, 2020, Truist Financial Corporation (“Truist”) provided written notice (the “Notice”) to its directors and executive officers that there will be a blackout period with respect to the heritage SunTrust and heritage BB&T 401(k) savings plans (the “Heritage Savings Plans”). The blackout period is to facilitate the consolidation of the Heritage Savings Plans into one plan, the Truist Financial Corporation 401(k) savings plan, and to transition to a new recordkeeper, Fidelity Investments. During the blackout period, Heritage Savings Plan participants will be unable to transfer or diversify investments or obtain a loan, withdrawal or distribution from their Heritage Savings Plans.
In accordance with Section 306(a) of the Sarbanes-Oxley Act of 2002 and SEC Regulation BTR, the Notice informed Truist’s directors and executive officers of the blackout period and the restrictions on trading in Truist equity securities that apply to them during the blackout period. A copy of the notice is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The blackout period is expected to begin on July 24, 2020 at 4:00 p.m. (Eastern Time) and end no later than August 14, 2020.
During the blackout period and for a period of two years thereafter, Truist stockholders or other interested persons may obtain information about the blackout period by contacting:
Amen twice!!!! It does not make any sense at all.
Royal Dude,
The BK is over and there was no money left for 19 and 22.
And...there is nothing in those documents that pends down when.
Not sure how you define "patiently". It's been 12 years...the BK was over in January and there is no indication of anything going on behind the scenes that things are being wrapped up for a distribution. It seems that if there is anything the engines would be started by now and we could see the process beginning.
Yes...I think you are right. I do not think the FDIC has any dollars to distribute to escrow. Oh well...
RD,
JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain. (Chang W. Lee/The New York Times)
Emily Flitter, Stacy Cowley and Gillian Friedman – The New York Times
Jul 15, 2020, 7:30am EDT
Three of the nation’s biggest banks revealed Tuesday that they had set aside billions of dollars to cover potential losses on loans, signaling that they don’t expect consumers and corporations to be able to pay their debts in the coming months as the pandemic continues to gut employment and commerce.
RD,
Appreciate your honesty but you can't deposit honesty in the bank.
RD,
That is how you define it. These guys have plenty of attorneys that will call it something else and the Judge will agree.
Royal Dude,
The way I see it.....If what is true in this link I doubt if JPM is paying anything to anyone anytime soon. When things were good before the pandemic they paid nothing so what makes you think they will have us on the list to pay. Jamie has a heart made of ice and he is all about greed.
https://www.nytimes.com/2020/07/14/business/big-banks-quarterly-results.html
Well...no guarantees in life...
JHD
Jinsong33 let me translate for you....."Don't quit your day job."
Here's hoping the money comes real soon!
Woodstock guy25 ... this I can agree on. Our energies should be focus on COOP's BOD. If they can approve a 25M bonus for the CEO with no improvement on the stock price something smells awful with this. You gotta think the big guys invested in COOP is aware of what is going on...right? If so why aren't they selling or call for some heads to roll.
What can we control? We need to start flooding the BOD on questions after 8/3 earnings.
Thanks AZ...Hoping sooner rather than later and also praying that this virus doesn't cause a hiccup in the plan/process. It's been a long wait for us all.
AZ,
You state.....
I’m watching for a dilution correction for those “Secondary Dilutive Shares” that the Company was forced into issuing ... and a coupon announcement ...
What is delaying this action?
Yes...either that or a deal was made with them and they already have their money and this is in their rear view. I would like to think your point is true.
Amen LuckyPanda!!! It is what it is and we wont know how this ends until it has ended. You are right the focus is on getting this completed.
Thank you ItsMyOption. What you have done is outstanding and far exceeds the speculation that has been messaged on this board. Here's hoping for answers to all your questions which I think will shed much light on the status on the receivership of WM.
Oops...wrong person referenced in my message. I meant ItsMyOption.
Sorry about that....
Anxious to see what the response will be to Petewamu on Thursday. It should shed some light on something....hopefully.
Anxious to see what the response will be to Petewamu on Thursday. It should shed some light on something....hopefully.
My concern/question is if they have funds then there would be a distribution. According to what is stated in the 2019 Annual Report the FDIC does not wait to finalize the receivership to distribute what they have.
Not sure if this has been posted on the MB. Below is an blip from the 2019 FDIC Annual Report. On page 44 it states the FDIC will distribute proceeds then terminate the receivership. There have been discussion on the board concerning the signing off of the receivership with the thought that this would start the flowing of dollars to escrow. From this it appears the process is all is paid prior to the signing off of the receivership.
https://www.fdic.gov/about/financial-reports/report/2019annualreport/2019ar-final-noblank.pdf#page=11
Receivership Management Activities Te FDIC, as receiver, manages failed insured depository institutions and oversees their subsidiaries with the goal of expeditiously winding up their afairs. Te oversight and prompt termination of receiverships help to preserve value for the uninsured depositors and other creditors by reducing overhead and other holding costs. Assets remaining after resolution are liquidated by the FDIC in an orderly manner, and the proceeds are used to pay receivership claimants, including depositors whose accounts exceeded the insurance limit. During 2019, receiverships paid dividends of $1.2 million to depositors whose accounts exceeded the insurance limit. Once the assets of a failed institution have been sold and its liabilities extinguished, the fnal distribution of any proceeds is made, and the FDIC terminates the receivership. In 2019, the total number of active receiverships under management decreased by 28 (10 percent) to 248. Further, the FDIC terminated more than 75 percent of new receiverships within three years of the date of failure.
Well RD if July 14th (Tuesday) go by and nothing you can blame on your source (LOL). If something happens on July 14th I will be the first to apologize to you.
AMEN!!!!!!!! Thank you both!!!!
ItsMyOption....This is fantastic and hopefully it will shed more light on what is really going on and if escrow is truly in line of $$. Thank you soooooo much for doing this for us!!
It's times like these when you wish for what is really going on with escrow. Lot of DD and many different interpretations..nothing you can believe. We need information/status directly from the people who know.