4 Financial Stock Stories From the Weekend

Bank of America Corporation (NYSE:BAC): Current price $12.15

The corporation’s Merrill Lynch division has been sued by a trust wanting over $309 million in damages for alleged breaches of representations and warranties connected with the sale of more than 5,000 mortgages. Charges were filed Friday in New York State Supreme Court in Manhattan, accusing Merrill Lynch Mortgage Lending of failing to repurchase loans, as required by agreements made in 2007.

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BAC

Goldman Sachs Group (NYSE:GS): Current price $145.36

In 2011, which was the most recent year for which data are available, the average yearly compensation for a director was $488,709, up over 50 percent from 2008, according to the compensation data firm Equilar, which said that some of the bank’s 13 directors make in excess of $500,000 because they have extra responsibilities. Goldman Sachs is expected to report fresh pay data in the coming weeks, and those numbers will probably skyrocket for 2012, since the shares jumped more than 35 percent last year and its directors are paid in stock. Equilar says that Goldman’s board is the best compensated of any big United States bank and the fifth-highest paid of any firm in the country. The firm defends board’s pay, explaining that most of the compensation is in stock that directors can not sell until after they have left the board.

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GS

Liberty Global (NASDAQ:LBTYK): Current price $68.45

Liberty Global has purchased 25.3 million shares in the Dutch operator, Ziggo from Barclays Capital Securities Limited at €25 per share, for an aggregate investment of around 632.5 million euros. As a result, Liberty Global now owns 12.65 percent of Ziggo, based on the shares outstanding as of December 31, 2012.

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LBTYK

American Capital (NASDAQ: ACAS) Current price $14.55

The firm said Friday that in the first quarter of 2013, it conducted open market purchases of about 9 million shares of American Capital common stock, or 3 percent of its outstanding shares as of December 31, 2012.  The shares were bought at an average price of $14.23, totaling roughly $128.3 million.

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ACAS

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