 |
 |
|
|
|
|
|
|
|
| | | |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1
.
Government Exhibit # 2ND CONSOLIDATED AND AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
FIRST UNION DEFENDANTS PRACTICES LOANS REPORTS CONTROL FORMER SENIOR VICE SUM LOSSES FRAUDULENT SENIOR VICE PRESIDENT MISLEADING STATEMENTS FRAUD ACCOUNTING INDIVIDUAL DEFENDANTS MATERIALLY FALSE ACCORDING FORMER HEAD PLAINTIFFS DELINQUENCY ACQUISITION MASSIVE LOSSES MAGNITUDE VIOLATION MQA HOME IMPROVEMENT QUALITY CONTROL LOAN PORTFOLIO HOME IMPROVEMENT DIVISION |
UNITED STATES
WESTERN DISTRICT OF
CHARLOTTE
3
IN RE: THE FIRST UNION CORP.
SECURITIES LITIGATION
_________________________________________________________________________________
SECOND CONSOLIDATED AND AMENDED CLASS ACTION COMPLAINT
TABLE OF
NATURE OF THE CASE
JURISDICTION AND VENUE
PARTIES
PARTICIPATION OF INDIVIDUAL DEFENDANTS
CONFIDENTIAL SOURCES
SUBSTANTIVE ALLEGATIONS
A. DEFENDANTS RECKLESSLY IGNORED THE FRAUDULENT
PRACTICES AT THE MONEY STORE
1. Defendants Performed Virtually No Due Diligence
B. THE "BARCELONA WEEKEND": FIRST UNION
EXECUTIVES DISCUSS THE MONEY STORE*S TRUE
FINANCIAL CONDITION
C. A 1998 INTERNAL AUDIT AT THE MONEY STORE REVEALS
ENORMOUS ERROR RATES IN THE MONEY STORE*S LOAN
PORTFOLIO
1. The Results of The Money Store Audit Are Given to
2. The Money Store*s Fraudulent Practices are Detailed
In Written Reports Provided to First Union
D. First Union Is Directly Confronted With The Money
1. Concerned Money Store Employees Confront
First Union Senior Management
2. Defendants Take No Action to Remedy the Fraudulent
SNIPPETS:
|
|
|
| | | |
|
|
