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Countrywide Employees Sue Company

James Sabatini

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Posted by James SabatiniSeptember 12, 2007 10:37 PM

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Some Countrywide Financial Corp. employees have sued their employer. The employees are claiming they suffered heavy losses in their 401k retirement accounts after the company failed to warn them about the depth of its financial troubles.

The lawsuit, filed in U.S. District Court in Santa Ana, seeks class-action status and names as defendants Countrywide Chairman and Chief Executive Angelo Mozilo and benefits committee members in charge of the retirement plan. To read more about the Countrywide lawsuit, click here.

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