He Felled a Giant, but He Can't Collect: Countrywide Ex-Executive still Awaiting $3.8 Million Award - NYT

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He Felled a Giant, but He Can’t Collect | Countrywide Ex-Executive still Awaiting $3.8 Million Award – NYT

He Felled a Giant, but He Can’t Collect | Countrywide Ex-Executive still Awaiting $3.8 Million Award – NYT

Perhaps the regulators should pay close attention to this case and see if there is anything they might have intentionally missed?


Gretchen Morgenson-

“TAKING on corporate Goliaths for their wrongdoing should not be so daunting.”

That’s the view of Michael Winston, a former executive at Countrywide Financial, the subprime lending machine that was swallowed up by Bank of America in 2008. Mr. Winston won a wrongful-dismissal and retaliation case against the company in February 2011, but is still waiting to receive his $3.8 million award. Bank of America is fighting back and has appealed the jury verdict twice.

After hearing a month of testimony from a parade of top Countrywide officials, including the company’s founder, Angelo Mozilo, a California state jury sided with Mr. Winston. An executive with decades of expertise in management strategy, he contended that he was pushed out for, among other things, refusing to follow questionable orders from his superiors.

But for the last year and a quarter, Mr. Winston, 61, has been in legal limbo. Bank of America lost one appeal in the court that heard the case and has filed another that is pending in state appellate court.

[NEW YORK TIMES]

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