Replies to post #433286 on Mr Cooper Group Inc (COOP)

[hotmeat]

Did he win that suit or was a $500 Million D&O suit just filed (WMI funds down streamed to shore up WMB) . Any clarification would be welcomed.

[tcr7309]

Fred, you are correct but it does not matter. Without going into detail, there was a run on the bank, period.

Rottella was begging the feds for a short term influx in cash but the feds had the right to seize and they did.

Their reasons for seizing are disgusting, but they had the right to do so. Try to prove differently in the courts and wait for 15 years to find out.

You guys need to understand how the game is played. It is not who is right and who is wrong, it's who is the most powerful and has the deepest pockets.

Rottella's email to the feds is incriminating and shows the distress wamu was in.



all imo

[Evintos]

Do you have a link that shows Sussman won the D&O case?

The D&O Litigation was settled and such settlement was approved by the Bankruptcy Court for the District of Delaware in December 2014. Such settlement resulted in, among other things, a payment to the Trust of approximately $37 million, which amount constitutes Litigation Proceeds, of which the Trust disbursed $8,321,624.59 to the Company on June 23, 2015. In addition, pursuant to the settlement of the D&O Litigation, $3 million of the $37 million was placed in a segregated reserve account to be administered by a third party. Based on disclosures by the Trust in a Form 8-K filed by the Trust with the SEC on June 1, 2015, funds may be released from the reserve to the Trust if and when certain designated conditions are satisfied. If and when these funds are released to the Trust, and to the extent the Company is entitled to receive such funds in accordance with the Plan, it is anticipated that the Trust will make payments to the Company in an amount equal to the Company’s share of Litigation Proceeds as provided under the Plan. Due to the contingent nature of the reserve, however, there can be no assurance that the Company will receive additional funds from the reserve.

http://www.sec.gov/Archives/edgar/data/933136/000119312515239575/d948466d8k.htm

[NewbieWar]

Dont forget about the smoking guns of Project West, even THJMWR stated publicly that there was enough evidence to prove JPM for RICO.