Mr Cooper Group Inc (COOP)

[rramirez82]

Thanks for posting the link, Climber.

I'm a little confused as to why Shearman & Sterling would be working on a "settlement letter" in their capacity as tax counsel. I imagine there must be certain tax implications (NOLs, etc.) involved with the global settlement -- although I'm not quite sure what they would be.

I do not think this "settlement letter" is referencing the settlement of the 401k because the Motion for settlement of the employee 401k was filed on June 19th -- this date is referencing July 2nd. Thus, I highly doubt we're talking about the savings plan.

I'm sure Shearman & Sterling is assisting Weil in their capacity as tax counsel throughout the settlement process. I imagine this letter correlates to the Weil billing statements (which refer to "global settlement") in some way. The easiest way to confirm would be to cross-reference the dates and billing partners on the settlement-related entries of the invoices for both firms.