PennyMac Can't Avoid Investors' Suit Over Post-Libor Rate
By Katryna Perera ( February 27, 2025, 10:07 PM EST) -- A California federal judge has ruled PennyMac's mortgage investment arm must face a suit accusing it of using last year's discontinuation of Libor to unlawfully lock in a lower dividend for some of its preferred stock, saying the plaintiffs have adequately pled that the company violated the LIBOR Act when it issued dividends at a fixed rate....
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