Hagens Berman Sobol Shapiro Cases

Countrywide Appraisers

Date Filed: October 16, 2008

Court: U.S. District Court

Location: Seattle

Ticker Symbol: CFC

Hagens Berman Sobol Shapiro filed a class-action lawsuit against Countrywide claiming the company engaged in a practice of pressuring and intimidating appraisers to defy industry standards and generate appraisals in line with the company's business objectives.

The suit claims Countrywide blacklisted appraisers who didn't comply, adding their names to the 'Field Review List.' The suit claims that if an appraiser appears on the Field Review List, the appraiser's business and revenues plummet.

According to the suit, Countrywide's market dominance gives it the ability to negatively affect an appraiser's business.

According to the complaint, as of Aug. 28, 2008, more than 2,000 names were on the Field Review List. The suit seeks to represent anyone named on the Field Review List and companies that adversely suffered due to Countrywide's alleged actions.

If you or your company is on the list, we'd like to hear from you. You can contact HBSS by clicking here or e-mailing info@hbsslaw.com.