AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
With Sale to WaMu Pending, MF Lender Settles Suit.
IRVINE, CA -- Commercial Capital Bancorp here, which is slated for sale to Washington Mutual, has settled a lawsuit with a "purported" shareholder who accused the multifamily lender of selling out too cheaply.
In a filing with the Securities and Exchange Commission, CCBI said it paid plaintiff Walter Arnold $325,000 to the settle the case. CCBI is one of the largest multifamily lenders in the U.S. Based in Seattle, WaMu is the nation's third-largest mortgage banking firm.
Mr. Arnold was seeking class-action status on the lawsuit and an order enjoining the sale. In the SEC filing, it refers to Mr. Arnold as a "purported" shareholder but does not elaborate.
As National Mortgage News went to press, CCBI chief executive Stephen Gordon could not be reached for comment. One analyst who follows the company told NMN that CCBI has been silent on the issue of the settlement.
In April, WaMu agreed to buy CCBI for about $983 ...
- SEC: CCBI Settles Lawsuit.
- News wire article from: Mortgage Line Muolo, Paul September 22, 2006 700+ words
...company told ON that CCBI has been silent on the...settlement. In April, Washington Mutual agreed to buy CCBI for about $983 million...institutions, including Washington Mutual, were contacted," CCBI says in the documents...
- Fast Growing CCBI Has Strong 2Q.
- Magazine article from: National Mortgage News August 1, 2005 700+ words
...increase from the same period last year. CCBI's production in the quarter includes...During the first six months of the year CCBI earned $42 million, a 133% gain from...capital. "Of the $612 million of loans CCBI moved to the held-for-sale category...
- CCBI: Moors & Cabot Initiates Coverage of Commercial Capital Bancorp (CCBI)...
- Press release article from: PR Newswire January 7, 2005 700+ words
NEW YORK, Jan. 7 /PRNewswire/ -- CCBI: Moors & Cabot Initiates Coverage of Commercial Capital Bancorp With a Buy Rating and $29 Price Target. Moors &...
- Washington Mutual to Acquire Commercial Capital Bancorp, Inc.; Deal Strengthens...
- Press release article from: Business Wire April 24, 2006 700+ words
...IRVINE, Calif. -- Washington Mutual, Inc. (NYSE:WM...Inc. (NASDAQ:CCBI) announced that they...agreement in which Washington Mutual will acquire the outstanding...Commercial Capital enhances Washington Mutual's commercial and...
- Washington Mutual to acquire Commercial Capital Bancorp.(Commercial)
- Magazine article from: Mortgage Banking June 1, 2006 700+ words
...Seattle-based Washington Mutual Inc. (WaMu...Bancorp Inc. (CCBI) have entered...Capital enhances Washington Mutual's commercial...H. Gordon, CCBI chairman and...The merger with Washington Mutual is an attractive...
- Schaeffer's Midday Options Update Features General Electric, Washington Mutual,...
- Press release article from: Business Wire April 24, 2006 700+ words
...Electric (NYSE:GE), Washington Mutual (NYSE:WM), Cendant...is Mutual This morning, Washington Mutual (NYSE:WM) announced...Commercial Capital Bancorp (CCBI) for a 13-percent premium to CCBI's Friday closing price...
- Zacks Bull and Bear of the Day Highlights: Deckers Outdoor, CONMED Corporation,...
- Press release article from: Business Wire May 3, 2006 700+ words
...Research provides analysis on Washington Mutual (NYSE:WM) and FEMSA (NYSE...at $16.00. Analyst Blog: Washington Mutual, aka WaMu (NYSE:WM) released...reiterating our Hold rating. CCBI is a relatively small acquisition...
- Commercial Capital Bancorp Announces Second Quarter 2006 Earnings; Approval of...
- Press release article from: Business Wire July 25, 2006 700+ words
...Commercial Capital Bancorp, Inc. (the "Company") (NASDAQ:CCBI), today announced net income of $13.3 million or $0...s previously announced agreement to merge with and into Washington Mutual, Inc. ("WaMu") and $2.2 million of expenses related...
Source: HighBeam Research, With Sale to WaMu Pending, MF Lender Settles Suit.