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Wich opportunity
what to do if i reject the plan and elect to opt out
what to do if i reject the plan and elect to opt out
hello everyone,
what to do if i reject the plan and elect to opt out
thank u
Hemispherx summarizes clinical results of Phase I/II study of Ampligen
Hemispherx Biopharma presented a summary of the results of its Phase I/II study from the poster presentation entitled "Seasonal Influenza Vaccine and a TLR-3 Agonist, Rintatolimod --Ampligen, Given Intranasally Produced Cross-Reactive IgA Antibodies Against Pathogenic H5N1 Influenza HA" given at the American Society for Microbiology Biodefense Conference in Washington, DC on January 30. When FluMist, a seasonal influenza vaccine, was administered intranasally in conjunction with Ampligen, 92% of the subjects elaborated specific IgA antibodies against at least one of the homologous seasonal vaccine strains. Healthy volunteers also showed, surprisingly, enhanced IgA levels against emerging avian influenza viruses with the potential for causing a pandemic in humans. These antibodies were against one or more of 3 different strains of H5N1, H7N9, and H7N3. Two-thirds of these recipients showed a greater than or equal to 4-fold increase in specific IgA levels over baseline and some had measurable IgA levels one year after receiving FluMist in conjunction with Ampligen. A published challenge study in adults (aged 18-45) indicates that FluMist® alone generates =4 fold increase in serum HAI antibody response (a level thought to be protective) in 24% of recipients despite the fact that 85% of recipients were estimated to have been protected (Treanor, et al. (2000) Vaccine, 18:899). In Europe FluMist® is approved for individuals aged 2-17 compared to ages 2-49 in the US.
A Clinical Update on the Search for a Universal Flu Vaccine: Presentation in Washington, DC on January 30, 2014 in Conjunction With the American Society for Microbiology (ASM) Biodefense Conference
Hemispherx Biopharma and Researchers With the University of Alabama at Birmingham (UAB) to Discuss Clinical Trial Studies Aimed at Developing a Universal Influenza Vaccine to Prevent Pandemic Influenza Threat
PHILADELPHIA, Jan. 28, 2014 (GLOBE NEWSWIRE) -- Hemispherx Biopharma(NYSE MKT:HEB) announced today that the ASM Biodefense Meeting is scheduled for January 27-29, 2014 at the Washington Marriott Wardman Park Hotel, Washington DC. The University of Alabama and Hemispherx's poster presentation is entitled "Seasonal Influenza Vaccine and a TLR-3 Agonist, Rintatolimod (Ampligen®), Given Intranasally Produced Cross-Reactive IgA Antibodies Against Pathogenic H5N1 Influenza HA" and will be provided in poster format by Dr. E. Turner Overton, an infectious disease expert at UAB, in the afternoon of January 29, 2014. The presentation will be available on the Hemispherx website. Ampligen® (rintatolimod) is an experimental therapeutic.
Of special concern regarding avian influenza infections in humans is the impact of travel related to the Chinese New Year (http://www.fao.org/news/story/en/item/212599/icode/) and the emergence of a novel drug resistant H7N9 avian influenza virus (Liu, et al, Expert Reviews 2014).
As officials with the Centers for Disease Control and Prevention report widespread flu activity this season in the U.S., Chinese health officials have announced rising cases of the deadly bird flu virus, H7N9, and two deaths (Canada and Vietnam) from another deadly avian influenza virus, H5N1, have already been reported this year. Thus, influenza epidemics continue to represent a significant medical problem around the world. Even with existing vaccines, annual influenza epidemics typically results in 20-50 million cases, resulting in 30,000-40,000 deaths in the U.S. alone. A possible pandemic of avian H5N1 or H7N9 could have even more devastating consequences.
Representatives of Hemispherx Biopharma, Inc. and Prof. Overton, the principal researcher conducting the clinical trial at the University of Alabama at Birmingham, will describe the results to date of the Ampligen®/FluMist® intranasal influenza vaccine clinical trial and address questions during a media conference at the National Press Club in Washington, DC scheduled on Thursday, January 30 at 10 a.m. following the formal presentation at the ASM Biodefense Conference.
The current flu vaccines used in the United States have a number of disadvantages including slow and expensive manufacturing, and reduced efficacy in elderly, children and immune-compromised populations. These weaknesses could be multiplied during a pandemic. The use of Ampligen®, an experimental therapeutic, as a candidate adjuvant combined with FluMist® (a commercially available vaccine) may have potential advantages as compared to traditional inactivated vaccines: including intranasal administration and potential generation of a broader immunity at the natural site of entry of the influenza virus. The stimulation of cross-protection against pre-pandemic H5N1 avian influenza strains is an ongoing clinical research goal. As FluMist®, due to its intranasal administration, imitates the natural entry of the influenza virus, it is already known to generate local 'first-line' immunity as well as the traditional systemic immunity. The objective of the proposed "vaccine cocktail" is to enable potentially wider immunity, including additional protection against a variety of highly pathogenic influenza viruses.
Conference Details:
Date: Thursday, January 30, 2014
Time: 10:00 a.m. - 11.00 a.m.
Location: National Press Club, Lisagor Room (529 14th Street NW, 13th Floor, Washington, DC 20045)
Panelists:
Dr. William A. Carter (Moderator), Hemispherx Biopharma, Inc., Chairman and CEO
Edgar Turner Overton, M.D. (Speaker), Principal Researcher, University of Alabama at Birmingham Department of Medicine, Division of Infectious Diseases
About Dr. William A. Carter
Dr. Carter, the co-inventor of Ampligen®, joined the Company in 1978, and has served as the Company's Chief Scientific Officer since May 1989, the Chairman of the Company's Board of Directors since January 1992, the Company's Chief Executive Officer since July 1993, the Company's President since April, 1995, and a director since 1987. From 1987 to 1988, Dr. Carter served as the Company's Chairman. Dr. Carter was a leading innovator in the development of human interferon for a variety of treatment indications including various viral diseases and cancer. In this context, he received the first FDA approval to initiate clinical trials on a beta interferon product manufactured in the U.S. under his supervision. From 1985 to October 1988, Dr. Carter served as the Company's Chief Executive Officer and Chief Scientist. He received his M.D. degree (with honors) from Duke University and underwent his post-doctoral training at the National Institutes of Health and Johns Hopkins University. Dr. Carter also served as Professor of Neoplastic Diseases at Hahnemann Medical University, a position he held from 1980 to 1998. He also served as Director of Clinical Research for Hahnemann Medical University's Institute for Cancer and Blood Diseases, and as a professor at Johns Hopkins School of Medicine and the State University of New York at Buffalo. Dr. Carter was a recipient of a Research Career Award from the National Institute of Health while serving on the faculty of Johns Hopkins Medical University. He is a Board certified physician, Fellow of the American College of Physicians and author of more than 250 scientific articles, including the editing of various textbooks on anti-viral and immune therapy.
In addition to the peer-reviewed articles on antiviral therapy, he has been Editor of two major textbooks, including "Selective Inhibitor of Animal Viruses" which went thru more than 10 printings. He was Principal Investigator on numerous large NIH Program Project Grants in the area of antiviral and cancer therapy, with annual budgets of several million dollars. Dr. Carter initiated the first clinical studies in a number of diseases in which interferon is now the treatment of choice, including chronic viral hepatitis and multiple sclerosis. He is inventor, or co-inventor of several hundred patents that are exclusively licensed to Hemispherx Biopharma.
About Dr. Edgar Overton, M.D.
Dr. Overton is board certified in both Internal Medicine and Infectious Diseases and currently serves as the Medical Director for the Ryan White funded UAB 1917 HIV Clinic and as the Medical Director for the recently created Viral Hepatitis Clinic at the 1917 Clinic which offers comprehensive care for HCV-infected persons. He is an Associate Scientist at the UAB Center for AIDS Research (CFAR) and serves as the Co-Chair for the Clinical Core of the CFAR.
Dr. Overton's research interests include assessing vaccine responses in different patient populations. He currently serves as a member of the Protocol Committee within the HVTN, overseeing protocol development and manuscript submission, and as a co-chair for a Phase I clinical trial evaluating a polyvalent prime/boost HIV vaccine strategy. Dr. Overton has led studies evaluating novel vaccines and vaccine strategies against several different pathogens, including HIV, hepatitis A, hepatitis B, HPV, VZV, anthrax, smallpox, and influenza.
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders. Hemispherx's flagship products include Alferon N Injection® and the experimental therapeutics Ampligen® and Alferon® LDO. Ampligen® is an experimental RNA nucleic acid being developed for globally important debilitating diseases and disorders of the immune system, including Chronic Fatigue Syndrome. Hemispherx's platform technology includes components for potential treatment of various severely debilitating and life threatening diseases. Because both Ampligen® and Alferon® LDO are experimental in nature, they are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials. Hemispherx has patents comprising its core intellectual property estate and a fully commercialized product (Alferon N Injection®), approved for sale in the U.S. and Argentina. The Company's Alferon N approval in Argentina includes the use of Alferon N Injection (under the brand name "Naturaferon") for use in any patients who fail or become intolerant to recombinant interferon, including patients with chronic active hepatitis C infection. The Company wholly owns and exclusively operates a GMP certified manufacturing facility in the United States for commercial products. For more information please visit www.hemispherx.net.
About University of Alabama at Birmingham Medical Center
Fellows and faculty actively participate in teaching and patient care at the three major hospitals within the University of Alabama at Birmingham Medical Center. Their strong clinical presence is evidenced by two separate consult services (one in the 1100 bed University Hospital which focuses on opportunistic infections in compromised hosts such as BM and solid organ transplant recipients, bone/joint and CNS infections in orthopedic, trauma and neurosurgical patients, and infections in neutropenic/cancer patients; another service combines HIV/AIDS consultation at University Hospital and general infectious diseases consultation at the VA Medical Center and the county hospital). ID faculty and fellows also provide care in a cross-section of ambulatory clinics which target general ID, HIV/AIDS, STD, tuberculosis and international travel.
Forward-Looking Statements
The foregoing release contains forward-looking statements that can be identified by words such as "will be, investigative, interim" or similar terms, or by express or implied discussions regarding potential efficacy for Hemispherx's Ampligen®, or regarding potential future revenues from Ampligen®. You should not place undue reliance on these statements. Such forward-looking statements are based on the current beliefs and expectations of Management regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that Ampligen® will receive regulatory approval or be commercially successful in the future. In particular, management's expectations regarding Ampligen® could be affected by, among other things, the uncertainties inherent in research and development, including unexpected clinical trial results and additional analysis of existing clinical data; unexpected regulatory actions or delays or government regulation generally; the Company's ability to obtain or maintain proprietary intellectual property protection; general economic and industry conditions; global trends toward health care cost containment, including ongoing pricing pressures; unexpected manufacturing issues, and other risks and factors described in Hemispherx's filings with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K on file with the U.S. Securities and Exchange Commission. Hemispherx is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Disclosure Notice
The information in this press release includes certain "forward-looking" statements including without limitation statements about additional steps which the FDA may require and Hemispherx may take in continuing to seek commercial approval of the Ampligen® NDA for the treatment of Chronic Fatigue Syndrome in the United States. The final results of these and other ongoing activities could vary materially from Hemispherx's expectations and could adversely affect the chances for approval of the Ampligen® NDA in the United States and other countries. Any failure to satisfy the FDA regulatory requirements or the requirements of other countries could significantly delay, or preclude outright, approval of the Ampligen® NDA in the United States and other countries.
Information contained in this news release, other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risk of competition, changing market conditions, changes in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. The final results of these efforts at UAB and/or any other activities could vary materially from Hemispherx's expectations.
CONTACT: Company/Investor Contact:
Charles Jones
CJones & Associates Public Relations
888-557-6480
cjones@cjonespr.com
Source: Hemispherx Biopharma, Inc.
Will be the Perfect Hammer to get back
L2 please! and wow again
wow pre market @ .54 @ 5:08 AM , maybe today is the breakout-Day
http://www.nasdaq.com/press-release/hemispherx-analysis-of-new-data-on-protection-from-pulmonary-damage-associated-with-infection-by-20140122-00402
Joint Project With Viroclinics Biosciences, Rotterdam
PHILADELPHIA, Jan. 22, 2014 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (NYSE MKT:HEB), today announced that Dr. William M. Mitchell of Vanderbilt University presented a research paper on January 21, 2014 at the Keystone Symposia Conference on Pathogenesis of Respiratory Viruses entitled "Protection from Pulmonary Tissue Damage Associated with Infection of Cynomolgus Macaques by Highly Pathogenic Avian Influenza Virus (H5N1) by Low Dose Natural Human IFN-a Administered to the Buccal Mucosa." This presentation is a collaborative project conducted at Viroclinics, Rotterdam, an internationally recognized research entity for the study of both seasonal and pandemic influenza viruses. The biohazard facilities are directed by Prof. Albert D.M.E. Osterhaus, an internationally known virologist specializing in the study of pandemic influenza.
The global threat of an influenza pandemic emerging from avian H5N1 and H7N9 influenza viruses that are highly pathogenic for humans has mobilized a variety of efforts to mitigate the potential devastating human and economic consequences. A key element in governmental responses has been neuraminidase inhibitor stockpiling for therapeutic or prophylactic uses although the development of viral resistance secondary to genetic changes without loss of viral fitness is a constant threat to their human deployment.
Infection of humans with H5N1 is associated with a high mortality rate (~60%) due to an alveolar destructive primary viral pneumonia frequently expressed clinically as acute respiratory distress syndrome (ARDS) (Abdel-Ghafar et al. N. Engl. J. Med. 2008; 358:261-273). Using an established non-human primate model for H5N1 infection (Kuiken T, et al. Vet Pathol. 2003;40:304-310), the collaborative team evaluated the potential for the prophylactic mitigation of the pulmonary damage characteristic of fatal cases from primary influenza virus pneumonia using a low dose oral (LDO) formulation of a commercially available parenteral natural human interferon alpha (Alferon N Injection®). The study demonstrated a dose-dependent sparing of the H5N1 induced pulmonary damage. Clinical studies will be required to validate similar results in humans from highly pathogenic H5N1, H7N9, or similar emerging avian influenza viruses.
Thus, both H5N1 influenza virus (the subject of collaboration with the Osterhaus group) and H7N9 influenza virus (the subject of ongoing collaboration with Prof. J. Richt's group at the Center of Excellence for Emerging and Zoonotic Animal Diseases (CEEZAD), Kansas State University (please see Expert Review of Anti-infective Therapy (online edition, pages 1-5, 2014) are susceptible to Alferon N treatment in various model systems. The latter work (also conducted on Tamiflu resistant strains) was conducted at research facilities designed to enhance the capability of the US Department of Homeland Security.
Both H5N1 influenza virus and H7N9 influenza virus have recently lead to an increased incidence of clinical disease in various parts of the world.
Of special interest has been the very recent identification of the role of natural interferon in reducing the high mortality rate in H7N9 avian influenza infection by Chinese and Australian researchers who conducted clinical examinations in influenza infected Chinese patients. A higher mortality rate in the Chinese patients has been linked to a genetic defect in the interferon antiviral/immune pathways. A defect in the interferon-a induced gene product (IFITM3), which inhibits viral entry/uncoating, has been shown to correlate with higher proinflammatory cytokine levels in plasma and bronchoalvaeolar lavage samples (cytokine storm) in patients infected with H7N9. In addition, patients with this defective interferon pathway genotype have more rapid progression of their H7N9 influenza infection, development of acute respiratory distress syndrome (ARDS) and a higher mortality rate from H7N9 influenza infection compared to patients with a normal "wildtype" interferon antiviral defense mechanism (Proceedings of the National Academy of Sciences (PNAS) early edition at http://www.pnas.org/content/early/2013/12/17/1321748111).
Thus, the new study shows the importance of the interferon induced pathways in controlling influenza viral infection. No deaths were observed in individuals with the wildtype genotype, compared to a 33% mortality rate in patients with the dysfunctional interferon pathway genotype.
About Viroclinics Biosciences, BV
Viroclinics Biosciences is a leading diagnostic and clinical trial operation service company providing diagnostic and preclinical studies along with drug development for prevention and treatment of virus infections.
Its mission is to improve human and animal health by serving the biopharmaceutical industry with state-of-the-art diagnostics, operational and logistical services, custom-made models in preclinical and clinical drug testing, and expert advice on development of antivirals and vaccines. It offers a full range of virology services for new drug development programs and post-marketing surveillance of existing drugs and vaccines, ranging from traditional virology assays to the latest deep sequencing protocols for a very broad range of viruses.
Its BSL2 and BSL3 labs enable it to perform analysis according to international ISO 15189 accreditation expanded with elements of GLP and GCP. The ongoing, intimate interaction between scientists at the Erasmus MC and company staff yields a strong, flourishing platform to act and implement assays at the forefront of Viroscience.
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders. Hemispherx's flagship products include Alferon N Injection® and the experimental therapeutics Ampligen® and Alferon® LDO. Ampligen® is an experimental RNA nucleic acid being developed for globally important debilitating diseases and disorders of the immune system, including Chronic Fatigue Syndrome. Hemispherx's platform technology includes components for potential treatment of various severely debilitating and life threatening diseases. Because both Ampligen® and Alferon® LDO are experimental in nature, they are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials. Hemispherx has patents comprising its core intellectual property estate and a fully commercialized product (Alferon N Injection®), approved for sale in the U.S. and Argentina. The Company's Alferon N approval in Argentina includes the use of Alferon N Injection (under the brand name "Naturaferon") for use in any patients who fail or become intolerant to recombinant interferon, including patients with chronic active hepatitis C infection. The Company wholly owns and exclusively operates a GMP certified manufacturing facility in the United States for commercial products. For more information please visit www.hemispherx.net.
Competing Interests Disclosure: Dr. William Mitchell, Prof. of Pathology, Microbiology and Immunology at Vanderbilt University is a member of the Board of Directors of Hemispherx Biopharma, Inc. and is a shareholder in the Company.
Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "potential," "potentially," "expects," "may" and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Hemispherx that any of its plans will be achieved. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond Hemispherx's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Examples of such risks and uncertainties include those set forth in the Disclosure Notice, above, as well as the risks described in Hemispherx's filings with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Hemispherx undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise revise or update this release to reflect events or circumstances after the date hereof.
CONTACT: Company/Investor Contact:
Charles Jones
CJones & Associates Public Relations
888-557-6480
cjones@cjonespr.com
Source: Hemispherx Biopharma, Inc.
This article appears in: News Headlines
Read more: http://www.nasdaq.com/press-release/hemispherx-analysis-of-new-data-on-protection-from-pulmonary-damage-associated-with-infection-by-20140122-00402#ixzz2r8PnQ3IC
Not True . The Volume 2009 was above 120 mil
we have already one partner: Quote `` That's because Lehman could use the NOLs, along with whatever cash it's got, to merge with another profitable company. The NOLs would then be used to offset the income generated by the combined company and let it operate virtually tax-free for many, many years. The only limitation under tax law is that the NOLs would be good only if Lehman strikes mergers within its own industry—but, then again, “financial services” describes so many different companies, it's not as if Lehman would be starved for choices. ``
Great news :Merck (MRK) To Meet With Hemispherx Biopharma (HEB) Following FDA Go Ahead For Expansion Of Ampligen/FluMist Intranasal Clinical Trial Ventures Sierra World Equity Review
HEADLINE: Merck (MRK) To Meet With Hemispherx Biopharma (HEB) Following FDA Go Ahead For Expansion Of Ampligen/FluMist Intranasal Clinical Trial Ventures Sierra World Equity Review.
Merck (MRK) To Meet With Hemispherx Biopharma (HEB)
Sierra believes that Merck and Hemispherx Biopharma will be meeting in Whitehouse Station, New Jersey on Thursday, Sierra's leads are attempting to uncover if Merck is still interested in acquiring Hemispherx Biopharma or if the discussions are more centered towards a partnership. Shares of HED soared over 59% in Monday's session and continued higher in after hours trading
this baby is going to fly so high in the sky
Thank u, i will Take the 16 Cents if it's possible , will Call my Bank tomorrow
No ... Why 16 Cents
also canceled
7nech -- did you save copies of your ballot/forms? What did you select?
i have no Copie, but i asked my Bank to send it to me again
Did you leave the box "blank" -- or did you check the box saying "opt out"?
blank
Or did you not return a ballot at all?
YES
Or did you return a ballot -- if so, to whom? Your broker? Direct to KCCLLC?
my BANK
Need to know what you did to give you more info.
...Catz
blank
withCatz , please help
please help : I have received a letter from my bank that my escrow shares are canceled because i have chosen by the vote of the reoranisationplan the ´´opt out ´´
any body else ? true ? what to do?
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Additional Information
a comment about the Blog:
´´Bruce, I am surprised you went to the trouble to fill out all the paperwork necessary to participate in this settlement. Your efforts are just birdseed for the litigation vultures.
Only when the settlement funds come out of the pockets of those who managed the firm, and not the scraps left for the shareholders, would I consider participating. ''
16 Cent that's sad
JPMorgan Chase’s (JPM) tentative $13 billion mortgage settlement with the Department of Justice is at risk of imploding, according to multiple reports.
Word that the much-talked about and record-shattering deal could collapse drove shares of the largest U.S. bank to session lows.
Sources close to the matter tell FOX Business' Charlie Gasparino JPMorgan could have to settle various cases individually because a global settlement would be too onerous.
JPMorgan is worried about "unquantifiable" legal liability under the current terms of the tentative agreement.
According to The Wall Street Journal, JPMorgan and the DOJ disagree about the bank’s attempt to be partly reimbursed by a fund controlled by the Federal Deposit Insurance Corp.
JPMorgan wants to pay some of the settlement out of a fund set aside for creditors of the now-defunct Washington Mutual, which it acquired during the financial crisis at the urging of the government.
However, Attorney General Eric Holder is not willing to let JPMorgan pay the fine out of one hand and pull money out of the FDIC fund with the other, FOX News reported.
Another sticking point concerns criminal prosecution, where JPMorgan now wants the deal to restrict the government from filing a criminal suit except for an ongoing action in California.
A draft settlement offered by JPMorgan Sunday night upset federal officials by giving the bank extra legal protection from criminal probes, the Journal reported.
The DOJ and Holder are “not at all comfortable with that,” FOX News reported.
Holder is on a trip to Morocco and is expected to return to the U.S. on Wednesday night.
Neither New York-based JPMorgan nor the Department of Justice responded to a request for comment on the news.
If the deal falls apart, the DOJ could be left with little choice but to file a civil lawsuit against JPMorgan.
Shares of JPMorgan fell into the red on the news, but closed at $52.73, up 0.09% on the day.
Despite the record price tag, JPMorgan has sought to settle the matter out of court in an effort to remove another cloud of legal uncertainty that has been hovering above the bank.
Last week, the regulator of Fannie Mae and Freddie Mac revealed a $4 billion settlement with JPMorgan tied to mortgages sold during the housing boom.
JPMorgan is also reportedly in talks over a potential $6 billion settlement with institutional investors like BlackRock (BLK) who lost money on pre-crisis mortgage-backed securities.
You mean this is the First CALL ...
17 millions = Zero
A separate dispute between the bank and the FDIC had reportedly kept the deal from being completed. The two sides are at odds over how the costs of mortgage-backed securities issued by Washington Mutual will be handled.
JPMorgan acquired the banking operations of Washington Mutual in 2008 from an FDIC receiver and wants to maintain the ability to pursue the FDIC for WaMu-related liabilities.
The DOJ is said to be pushing for language in the larger deal to keep the FDIC from being responsible for any WaMu costs.
J.P. Morgan set aside another $9 billion in legal reserves in the most recent quarter, bringing the total to $23 billion. Last month, it agreed to pay more than $1 billion related to the “London Whale” trading fiasco, which cost JPMorgan $6 billion.
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Additional Information
there are *maybe* criminals
quote: ´´JPMorgan originally sought to be protected from any criminal charges as part of this deal, but that request was rejected by the government. ´´
The happy end is soon!
Zero Volume ... Hmm was does this mean? Halted this One bevor all the newbes Comes in
great !
´´The bank bought Washington Mutual essentially for free, paying $1.9 billion for a bank that had $40 billion in shareholders' equity just before the deal, and then recording a $2 billion profit on it immediately, The New York Times' Peter Eavis noted last month.´´
more News more News !