Saturday, January 22, 2011

LAWSUIT FILED AGAINST POPULAR, TOP EXECS


6/21/2011
Caribbean Business' Jose Carmona reported that a lawsuit against Popular, Inc., President & CEO Richard Carrión and CFO Jorge Junquera was filed by the Quetglas Law Office on behalf of a group of 60 plaintiffs with investments in Popular stock. According to the report, Popular Inc has been slapped with a civil lawsuit for violating federal Securities Exchange Act Laws.

The article also says that “ Attorney Eric Quetglas indicated that his law firm may amend the complaint to add hundreds of additional clients with large investments in Popular stock to obtain individual monetary compensation for clients that invested large sums of money in common and preferred Popular stock and who have sustained substantial losses as a result of the loss of value of the stock and the preferred stocks conversion to devalued common stock.”
More…..http://www.caribbeanbusinesspr.com/news03.php?nt_id=53214&ct_id=1