MIAMI (Reuters) – Executives at Florida-based lender BankAtlantic Bancorp Inc failed to alert investors about risks in its real estate loan portfolio as the U.S. housing market collapsed, a Miami jury ruled on Thursday in a rare securities fraud class action verdict.
The jury found BankAtlantic Bancorp officials misled shareholders on conference calls and failed to comply with proper lending procedures. The panel awarded $2.41 a share to investors who bought the company’s stock between April 26 and October 26, 2007.
MIAMI (Reuters) – Some employees of Florida law firms hired by banks to handle foreclosures have testified that they were “making up documents” and “forging stuff,” the state’s attorney general said on Wednesday.
Attorney General Bill McCollum said a nationwide probe would likely check out the relation between these firms and mortgage lenders.
DELRAY BEACH, Florida (Reuters) – Curtis Jones has fought for more than a year to keep his two-story townhouse in this beachside Florida city from being foreclosed.
Jones, a 49-year-old construction worker, feels like it is a one-sided fight.
“Nobody is willing to work with me. They just brush you off,” he said.
, Oct 17 (Reuters) – Curtis Jones has
fought for more than a year to keep his two-story townhouse in
this beachside Florida city from being foreclosed.
Jones, a 49-year-old construction worker, feels like it is
a one-sided fight.
“Nobody is willing to work with me. They just brush you
off,” he said.
MIAMI, Oct 8 (Reuters) – An ex-aide of a Florida lawyer who
ran a $1.2 billion Ponzi scheme was sentenced to 10 years in
prison on Friday, the latest development in a high-profile case
that drew attention to investment fraud in the state.
Debra Villegas, former chief operating officer of a
now-defunct Fort Lauderdale law firm at the center of the case,
pleaded guilty to money laundering charges earlier this year.
ROYAL PALM BEACH, Florida (Reuters) – A Florida lawyer at the forefront of legal challenges against foreclosure practices by mortgage lenders says the U.S. housing morass will drag on due to difficulty in determining who owns home loans.
Questions over practices in foreclosure procedures across the United States have forced at least three banks to temporarily halt their proceedings and prompted a growing chorus of calls by lawmakers and regulators for an industry-wide moratorium until problems are resolved.
MIAMI (Reuters) – Short-lived Tropical Storm Nicole triggered flash flooding that killed eight people in Jamaica and dumped heavy rain on Florida, Cuba, the Cayman Islands and the Bahamas on Wednesday.
The broad and ragged storm formed on Wednesday morning and dissipated Wednesday afternoon, and U.S. and Cuban meteorologists disagreed on whether it ever actually was a tropical storm at all.
MIAMI (Reuters) – Tropical Storm Nicole formed in the northwest Caribbean Sea on Wednesday and could bring flooding rain to southern Florida, Cuba, the Cayman Islands, Jamaica and the Bahamas, the U.S. National Hurricane Center said.
Nicole was centered 120 miles east-southeast of Havana, Cuba and was moving northeast with top sustained winds near 40 mph.
MIAMI, Sept 20 (Reuters) – The World Bank’s development
financing arm and the governments of Haiti and the United
States signed an agreement on Monday with South Korean clothing
producer Sae-A to develop an industrial park and garment
manufacturing operation in Haiti.
The planned project will be one of the biggest new
manufacturing initiatives in Haiti following a Jan. 12
earthquake that killed up to 300,000 people and dealt a heavy
blow to the economy of the poor Caribbean country.
MIAMI (Reuters) – An obscure Christian pastor whose plan to burn copies of the Koran on September 11 has sparked an international outcry said on Wednesday he will still go ahead with the event despite U.S. official warnings it will endanger American troops in Afghanistan and Iraq.
Pastor Terry Jones, leader of a tiny, little-known Protestant church in Gainesville, Florida, which openly campaigns against what it calls “radical Islam,” is facing a barrage of calls from U.S. government, military and religious leaders, and from abroad, to cancel his plans to publicly burn Islam’s holy book.