Bloomberg reports that U.S. District Judge Ronald Guzman in Chicago yesterday denied the lender’s motions for a new trial or a decision in its favour and ordered plaintiffs’ lawyers to submit a proposed final judgement within five days.
'This court expressly determines that there is no just reason for delay and directs that a final judgement be entered' in favour on almost 11,000 claims, Guzman said in his ruling. He awarded almost $968m in prejudgement interest.
Household stockholders sued in 2002, alleging the company and three executives made misleading statements about its mortgage-lending practices. The lender had earlier agreed to pay $484m in fines to settle claims lodged by more than a dozen states.
In May 2009, a jury decided the company, former Chief Executive Officer William Aldinger and two other people made recklessly misleading comments 16 times, and in one instance involving Aldinger did so knowingly.
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