Key Developments: Doral Financial Corp (DRL.N)

DRL.N on New York Stock Exchange

3.85USD
18 Dec 2014
Price Change (% chg)

$-0.15 (-3.75%)
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$17.13
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Latest Key Developments (Source: Significant Developments)

Doral Financial Corp announces asset sale
Tuesday, 9 Sep 2014 06:28pm EDT 

Doral Financial Corp:Announces the sale of about $430 million in assets resulting in proceeds of about $423 million to Doral Bank.  Full Article

Doral Financial Corp signs asset transaction
Monday, 14 Jul 2014 03:31pm EDT 

Doral Financial Corp:Announced the sale of amount of its non-performing assets for $369 million.Doral Financial Corp is a bank holding company engaged in banking, mortgage banking and insurance agency activities through its wholly-owned subsidiaries Doral Bank, with operations on the mainland U.S. and Puerto Rico.  Full Article

Pomerantz LLP announces the filing of a class action against Doral Financial Corporation and certain officers
Friday, 13 Jun 2014 12:09pm EDT 

Pomerantz LLP:Files class action lawsuit against Doral Financial Corporation (Doral or Company) and certain of its officers.Class action, filed in United States District Court, District of Puerto Rico, is on behalf of class consisting of all persons or entities who purchased or otherwise acquired Doral securities between April 02, 2012 and May 01, 2014 both dates inclusive (Class Period).This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.  Full Article

Doral Financial Corp files lawsuit against Puerto Rican Government
Thursday, 5 Jun 2014 09:41am EDT 

Doral Financial Corp:Files lawsuit in the Court of First Instance of Puerto Rico and a Writ for Certification in the Puerto Rican Supreme Court, alleging that the government illegally nullified its agreement to refund the bank more than $229 mln in tax overpayments.  Full Article

Newman Ferrara LLP announces filing of securities class action against Doral Financial Corp
Wednesday, 21 May 2014 04:21pm EDT 

Newman Ferrara LLP:Announces that a class action lawsuit has been commenced in the United States District Court for the District of Puerto Rico on behalf of purchasers of Doral Financial Corp.Complaint alleges that Doral had a material weakness in its internal controls over financial reporting and disclosure controls.Says that Doral Bank did not meet its Tier I regulatory capital requirements as required by bank regulators.  Full Article

The Law Offices of Curtis V. Trinko, LLP announces filing of class action litigation involving Doral Financial
Monday, 19 May 2014 06:00am EDT 

The Law Offices of Curtis V. Trinko, LLP:Files a class action lawsuit in United States District Court for the District of Puerto Rico on behalf of all persons who purchased/acquired securities of Doral Financial Corp during the period from April 2, 2012 through May 1.Class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.Complaint charges Doral Financial and certain of its executives with violations of federal securities laws.Complaint alleges the company had a material weakness in its internal controls over financial reporting and disclosure controls, and that such controls were ineffective.Had under-reserved for loan losses.Assets were overstated, its expenses were understated, its net income was overstated, and Doral Bank did not meet its Tier I regulatory capital requirements as stated throughout the Class Period, and as required by bank regulators to operate the bank.Defendants knew Doral Bank was undercapitalized and the company was not on track to achieve the financial results they had led the market to expect during the Class Period.  Full Article

Abraham, Fruchter & Twersky, LLP files class action lawsuit against Doral Financial Corp
Friday, 16 May 2014 04:17pm EDT 

Abraham, Fruchter & Twersky LLP:Announces that a class action lawsuit has been filed in the United States District Court for the District of Puerto Rico on behalf of all persons or entities who purchased the common stock of Doral Financial Corp.Says on May 1, after the market closed, that disclosed in a press release that it had been "advised by the Federal Deposit Insurance Corporation that it may no longer include in its calculation of its Tier 1 some or all of the tax receivables from the Government of Puerto Rico.As a result, Doral would no longer be in compliance with its capital requirements under its Consent Order with the FDIC.On this news, the price of Doral's shares dropped from a previous day close of $9.82 to close at $3.73 per share, a decline of over 60%, on abnormally high volume.  Full Article

Gainey McKenna & Egleston announces class action lawsuit against Doral Financial Corp
Thursday, 15 May 2014 07:00pm EDT 

Doral Financial Corp:Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the District of Puerto Rico.Class action on behalf of all persons who purchased or otherwise acquired the securities of Doral Financial Corporation during the period from April 2, 2012 and May 1, 2014.This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.The Complaint charges Doral Financial and certain of its executives with violations of federal securities laws.  Full Article

Doral Financial Corp announces class action lawsuit commencement
Wednesday, 14 May 2014 09:00pm EDT 

Doral Financial Corp:The securities litigation law firm of Brower Piven, A Professional Corporation, says that a class action lawsuit has been commenced in the United States District Court for the District of Puerto Rico.Class action lawsuit been filed on behalf of purchasers of Doral Financial Corporation common stock during the period between April 2, 2012 and May 1, 2014, inclusive.The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that as a result of having under-reserved for loan losses.The company, Doral Bank did not meet its regulatory capital requirements to operate the bank.  Full Article

Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Doral Financial Corp
Tuesday, 13 May 2014 05:31pm EDT 

Doral Financial Corp:Robbins Geller Rudman & Dowd LLP (Robbins Geller) says that class action has been commenced in United States District Court.On behalf of purchasers of Doral Financial Corp. common stock during period between April 2, 2012 and May 1, 2014 (Class Period).  Full Article

UPDATE 2-Judge rules for Doral in tax dispute with Puerto Rico

(Adds Puerto Rico's statement that it will appeal and percentage jump of Doral's stock price.)

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