$7.25 Million Class Action Lawsuit Settlement by First BanCorp
First BanCorp has agreed to settle a shareholder class action lawsuit which was filed in the United States District Court for the District of Puerto Rico for $74.25 million.
“I am pleased with the speed and appropriateness of the settlement that we reached with the plaintiffs,” said Luis Beauchamp, President and Chief Executive Officer of First BanCorp. “Today is another significant step in our efforts to fully address our pending legal and regulatory matters, and we look forward to continuing to build a leading banking franchise for our customers, shareholders and employees.”
Filed under Class Action, General Law, Settlements
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