Subsequent Events:On May 6, 2013, Assured Guaranty Ltd. and its subsidiaries ("Assured") announced that they had reached a settlement with UBS AG ("UBS") resolving their claims with respect to various U.S. residential mortgage-backed securities ("RMBS") transactions insured by Assured, including claims relating to reimbursement for breaches of representations and warranties ("R&W"). Under the settlement, UBS is required to make an initial cash payment to Assured of $358 million. Additionally, UBS is required to reimburse Assured for a portion of all future losses on certain transactions under a collateralized loss-sharing reinsurance agreement to be put in place by the third quarter of 2013. Assured has announced that this settlement resolves all RMBS claims that Assured has asserted against UBS, including those that have been in litigation.
American Overseas Group Limited Announces First Quarter 2013 Net Loss Available To Common Shareholders Of $14.0 Million And Operating Income Of $4.2 Million
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts