March 1st, 2007

LRK Represents Countrywide Employees In Class Action

LRK has partnered with prominent national class action firm Schifferin, Barroway, Topaz & Kessler, LLP to file a nationwide class action complaint against Countrywide Financial on behalf of Countrywide employees who participated in the company’s 401k pension plan.  The suit, Johnson v. Countrywide CV07-05879, filed in U.S. District Court in Los Angeles, alleges that the company and certain of its officers and directors mismanaged the pension plan by investing too heavily in Countrywide’s own stock at times when they knew the stock was overvalued due to the impending meltdown in the prime and sub-prime mortgage markets. LRK litigators Bryan Sheldon and Lisa Yang are handling the matter for LRK, which is local counsel in the case.

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