wmi holdings corp (WMIH) Key Developments
WMI Holdings Mulls Acquisitions
Dec 9 13
WMI Holdings Corp. (OTCPK:WMIH) . announced that it expects to receive $150 million in funding from Kohlberg Kravis Roberts & Co. L.P. KKR commit to purchase up to $150 million aggregate principal amount of subordinated 7.5% PIK notes, which may be issued in one or more tranches over a three year period. All of the proceeds from the subordinated notes, if and when issued, would be used to fund future acquisitions.
Justice Department Announces $13 Billion Settlement with JPMorgan
Nov 19 13
JPMorgan has agreed to a $13 billion settlement for misrepresenting bonds prior to the recession. It covers allegations revolving around mortgage-backed securities that became the trigger for the economic recession that is viewed as the worst since the Great Depression of the 1930s. As part of the settlement, the bank 'acknowledged it made serious misrepresentations to the public, including the investing public, about numerous residential mortgage-backed securities'. The settlement covers claims against JPMorgan and Bear Stearns and Washington Mutual, two banks that JPMorgan absorbed as the financial crisis was unraveling in 2008 and 2009.
WMI Holdings Corp. Elects Eugene I. Davis to its Board of Directors
Jun 11 13
WMI Holdings Corp. announced at the AGM held on June 5, 2013 has approved the election of Eugene I. Davis to its board of directors.
WMI Holdings Corp., Annual General Meeting, Jun 05, 2013
Apr 23 13
WMI Holdings Corp., Annual General Meeting, Jun 05, 2013., at 11:00 Eastern Daylight. Location: The Roosevelt Hotel. Agenda: To election of directors; to ratify the appointment of Burr Pilger Mayer, Inc., as independent registered public accounting firm for the fiscal year ending December 31, 2013; to approve compensation of WMI Holdings Corp.'s named executive officers; to approve the frequency of future advisory votes on named executive officer compensation; and to consider other business as may properly come before the meeting or any adjournment or postponement thereof.
WMI Holdings Corp. Approves Amendment to the Amended and Restated Bylaws
Apr 4 13
WMI Holdings Corp. announced that on April 1, 2013, its board of directors approved an amendment to the amended and restated Bylaws of the company which amendment became effective on April 1, 2013 upon adoption by the board. The amendment adds a new Section 2.13 to the Bylaws and provides for a procedure, including timely advance notice, for submitting shareholder nominations of persons for election to the board and proposals of business to be transacted by shareholders at an annual meeting of shareholders.