Countrywide Financial Corporation Securities Settlement
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(Original Notice)

Notice of Pendency and Proposed Settlement of Class Action and Fairness Hearing

(Supplemental Notice)

Supplemental Notice of Proposed Modified Settlement of Class Action and Fairness Hearing
Proof of Claim
Frequently Asked Questions
Court Documents
Broker/Nominee
Contact Information
Countrywide Eligible Securities and CUSIP number

IMPORTANT UPDATE

On December 26, 2012, the Net Settlement Fund was distributed according to the Order Approving Administrative Determinations of Proofs of Claim, Authorizing Initial Distribution of Net Settlement Fund, and Allowing Payment of Claims Administrator’s Fees and Expenses filed on November 8, 2012.


Welcome to the Countrywide Financial Corporation Securities Settlement Website.

To visit the SEC v. Mozilo Fair Fund Distribution website please click here.


UPDATED IMPORTANT DATES & DEADLINES
Submit A Proof of Claim Form:
(The Deadline Has Been Extended)
Deadline has passed
Exclude Yourself
(Get Out Of The Class):
Deadline has passed
Remain In The Class And Object to the Settlement: Deadline has passed
Remain In The Class And Object to the Amendment and Modification to the Plan of Allocation Only: Deadline has passed
The Court’s Fairness Hearing Settlement was approved. The Hearing was held on February 25, 2011.


The following is a summary of information presented in more detail in the Supplemental Notice of Proposed Modified Settlement of Class Action and Fairness Hearing, (the “Supplemental Notice”), which Class Members should receive in the mail, and which you can access by clicking the box on the left. Since this is just a summary, you should read the full Supplemental Notice for additional details.

Your rights may be affected by this Supplemental Notice whether you act or do not act. Please read the Supplemental Notice and the previously mailed Notice of Pendency and Proposed Settlement of Class Action and Fairness Hearing (the “Original Notice”) carefully. The Supplemental Notice does not replace all of the information in the Original Notice.

The Parties have reached an agreement to modify the Settlement Agreement in this Action. As more fully discussed in the Supplemental Notice, under the proposed modification, up to $22.5 million of the $624 million Settlement Amount will be set aside for up to two years to be used by Countrywide to satisfy claims asserted by individuals and entities that voluntarily excluded themselves from the Class. The parties believe that the per share recovery for Class Members will be at least as great, if not greater, than the recovery predicted in the Original Notice for at least two reasons. First, with requests for exclusion having been received, there are now fewer Class Members sharing in the Net Settlement Fund. Second, the amendment to the Settlement Agreement ensures that the amount that will be set aside will not exceed the estimated amount that the excluded Class Members would have received had they remained in the Class.

Moreover, as a result of a recent settlement reached by the Securities and Exchange Commission (the “SEC”) in a civil enforcement action, an additional $48,150,000 will be distributed to certain Class Members in this Action.

The following is a summary of information presented in more detail in the Original Notice, which Class Members should have received in the mail, and which you can access by clicking the box on the left. Since this is just a summary, you should read the full Original Notice for additional details.

Please read this information carefully. If you are a Class Member (as defined below), your legal rights will be affected by this Settlement and you may be entitled to participate in the settlement:

All persons or entities that, between March 12, 2004 and March 7, 2008, inclusive (the “Class Period”), either in the open market or pursuant or traceable to a registration statement:

(i) Purchased or otherwise acquired Countrywide Financial Corporation (“Countrywide”) publicly traded common stock or call options, and/or sold Countrywide publicly traded put options (the “Common Stock Subclass”); or

(ii) Purchased or otherwise acquired Countrywide Capital V 7% Capital Securities (the “Capital Securities Subclass”); or

(iii) Purchased or otherwise acquired Countrywide Series A Medium-Term Notes, Series B Medium-Term Notes, 6.25% Subordinated Notes Due May 15, 2016, Series L Medium-Term Notes (limited to CUSIP Nos. 22237LNR9 and 22237LPA4), and/or Series M Medium-Term Notes (limited to CUSIP No. 22237LPM8) (the “Debt Securities Subclass”); and were damaged thereby (these subclasses are collectively referred to as the “Class”).

Securities Brokers and other Nominees: Please see instructions on page 4 of the Supplemental Notice.
For a complete list of Countrywide Eligible Securities and CUSIP Numbers, click the box on the left.

THE COURT’S SETTLEMENT FAIRNESS HEARING
The Settlement was approved by the Court on March 4, 2011.

WHAT IS THIS LAWSUIT ABOUT?
Plaintiffs allege generally that Defendants violated federal securities laws by making false and misleading statements concerning Countrywide’s loan origination and underwriting practices, and the creditworthiness of its borrowers and riskiness of its loans. Plaintiffs also allege that Countrywide’s financial statements during the Class Period were false and misleading and presented in violation of generally accepted accounting practices by overvaluing the Company’s retained interests in securitized loans and mortgage servicing rights while under-reserving for losses on loans held on the books and in connection with loans sold on the secondary market. Plaintiffs allege that the Defendants violated the Securities Exchange Action of 1934 and the Securities Act of 1933.

The Defendants all vigorously deny the allegations of wrongdoing or any liability whatsoever.

THE SETTLEMENT BENEFITS
The Defendants have paid $624 million into escrow accounts that are earning interest for the benefit of the Class. In exchange for the agreement of Countrywide and KPMG not to exercise their rights to terminate the Settlement in connection with the Opt-Outs, Plaintiffs have agreed to set aside up to $22,500,000 of the $624,000,000 Settlement Amount (the “Set-Aside”) for a period of two (2) years from the date that the Settlement, as modified, is approved by the Court.

The balance of the fund, after deduction of the Set-Aside, payment of Court-approved attorneys’ fees and expenses, taxes, and the costs of notice and claims administration, will be distributed among all Class Members who send in a valid Proof of Claim form and are entitled to a distribution from the Net Settlement Fund (“Authorized Claimants”).

THE OPTIONS AVAILABLE TO CLASS MEMBERS UNDER THIS SETTLEMENT
If you are a Class Member, you have the following options:

FILE A PROOF OF CLAIM FORM – DEADLINE EXTENDED
To qualify for a payment, you must send in a timely, valid and completed Proof of Claim form with supporting documents (DO NOT SEND ORIGINALS) to the Claims Administrator. You may download a Proof of Claim at the link on the left. Please read the instructions carefully, fill out the Proof of Claim form, include all the documents the form asks for, sign it, and mail it to the Claims Administrator by first class mail, postmarked no later than April 26, 2011. If you have already filed your Proof of Claim form, you do not need to file another one.

EXCLUDE YOURSELF FROM THE CLASS
The Court has determined that Class Members who did not previously request to be excluded from the Class by October 18, 2010 may not request exclusion now.

OBJECT TO THE SETTLEMENT
If you are a Class Member, you can object to the Amendment and/or the modification to the Plan of Allocation as described in Section H of the Supplemental Notice. You may write to the Court setting out your objection(s). You may give reasons why you think the Court should not approve any or all of the modified terms set forth in the Amendment or the modification to the Plan of Allocation. If you would like the Court to consider your views, your objection must follow the requirements and procedures set forth in question 18 of the Original Notice, and must be filed with the Court and mailed and delivered to all of the counsel identified in question 18 of the Original Notice, no later than February 18, 2011. If you wish to appear at the Fairness Hearing, either yourself or through an attorney, you must file and mail a Notice of Appearance in accordance with the procedures set forth in question 22 of the Original Notice, no later than February 18, 2011.

The objection deadline, February 18, 2011, has already passed.

FURTHER INFORMATION
Further information regarding the Settlement, the Notices and how to file your claim may be obtained by contacting the Claims Administrator or reading through the Original Notice, Supplemental Notice and Proof of Claim links on the left. You may also contact Plaintiffs’ Lead Counsel at the address listed on the Contact Information link on the left.



IMPORTANT: THIS SITE IS NOT OPERATED BY COUNTRYWIDE. THIS SETTLEMENT IS SUPERVISED BY PLAINTIFFS’ LEAD COUNSEL. THE CLAIMS ADMINISTRATOR HANDLES ALL ASPECTS OF CLAIM PROCESSING. THIS IS THE AUTHORIZED WEBSITE FOR THIS SETTLEMENT. PLEASE DO NOT RELY UPON OTHER SITES THAT SET OUT DIFFERENT AND UNAUTHORIZED INFORMATION.