Arkansas Teacher Retirement System v. Mozilo, et al.

Summary

In this Oral Argument, Plaintiff Arkansas Teacher Retire System’s counsel alleged Angelo Mozilo and other defendants of misconduct and complete abandonment of regard for their fiduciary duties, including lack of good faith and lack of due care and oversight of Countrywide Financial Corporation’s lending practices, financial reporting, and internal controls, as well as the sale by certain of the Company's officers and directors of over $780 million of Countrywide stock at inflated prices, while in possession of material inside information, between 2004 and 2007.
The plaintiff was represented by attorney Stuart Grant. The defendant in this case, Angelo Mozilo and other defendants were represented by attorney Brian Pastuszenki.