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Securities

Aug. 21, 2009

Shareholders, Creditors Clash in Settlements

As San Diego's Accredited Home Lenders seeks to end two years of shareholder litigation, it has stumbled on obstacles that may signal broader problems for lawyers in dozens of similar cases.

By Gabe Friedman
Daily Journal Staff Writer

As San Diego's Accredited Home Lenders seeks to end two years of shareholder litigation, it has stumbled on obstacles that may signal broader problems for lawyers in dozens of similar cases.

Like other lenders, Accredited filed for Chapter 11 bankruptcy, creating an automatic stay of legal proceedings where its assets are at stake.

Problems popped up earlier this week when a committee of unsecur...

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