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Stock Market & Financial Investment News

News Breaks
June 2, 2014
15:50 EDTDRLDoral Financial evaluating alternative strategic initiatives, working with banks
Doral Financial disclosed in a regulatory filing that the company is developing and evaluating alternative strategic initiatives to respond to the significant trends affecting the company’s business in order to maximize shareholder value. In particular, the company has engaged several investment banking firms to assist it in structuring its businesses so that the company addresses in a comprehensive way the adverse effects on its business from the continued economic problems in Puerto Rico while allowing the company to capitalize on its success in building its U.S.-based business. Although at this time the company has not determined to pursue any particular strategic transaction, the company expects during 2014 to transform its businesses which may include, among other actions, selling performing and non-performing assets and businesses, improving the company’s capital structure to allow the company to pursue new business opportunities and focusing the company’s future growth on the U.S. market or undertaking other strategic transactions to fully address the regulatory directives of the FRBNY, FDIC and/or the Office of the Commissioner.
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September 22, 2014
18:28 EDTDRLDoral Financial legal counsel issues statement as Hacienda trial concludes
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September 20, 2014
15:39 EDTDRLDoral Financial says Hacienda has put forth no evidence
Following the trial in the Doral Financial Corporation v. Hacienda court case, Doral Legal Counsel Matthew D. McGill issued the following statement: "For four months, Doral has been waiting for Hacienda to explain its attempt to nullify its $230M debt to Doral. Hacienda claimed that Doral obtained its 2012 tax agreement through a fraud, but after two days of trial, including testimony from Secretary Melba Acosta Febo herself, Hacienda has come forward with no evidence supporting that outrageous accusation. When this case is over, the people of Puerto Rico will have to ask whether they were well served by their government's unfounded attack on one of Puerto Rico's few remaining banks."

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