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Stock Market & Financial Investment News

News Breaks
December 5, 2012
17:22 EDTFMDMangrove Partners reports 9.9% passive stake in First Marblehead
News For FMD From The Last 14 Days
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September 10, 2014
16:16 EDTFMDFirst Marblehead reports Q4 EPS ($1.11), consensus (94c)
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September 8, 2014
16:37 EDTFMDFirst Marblehead sees $3M charge connected to UFSB dissolution
First Marblehead disclosed in a regulatory filing that on May 28, the Board of Directors of Union Federal Savings Bank, a wholly owned subsidiary of The First Marblehead Corporation, approved the dissolution of UFSB and authorized UFSB to prepare a plan of voluntary dissolution pursuant to Code of Federal Regulations, Title 12, Part 146, Section 146.4, subject to approval of the Board of Directors of UFSB, the Office of the Comptroller of the Currency and the corporation, as sole stockholder of UFSB. In addition, on May 28,, the Board of Directors of the Corporation approved UFSB’s plan to pursue the Proposed Dissolution of UFSB and to prepare the Plan, subject to approval of the Plan by the Corporation, as sole stockholder of UFSB. In connection with the Proposed Dissolution of UFSB, the corporation and UFSB have incurred, and expect to incur, charges related to lease obligations, severance and retention costs, contract termination provisions and potential losses related to the liquidation of certain assets and liabilities in connection with the Plan. At the time of the filing of the Original Form 8-K, the corporation was not able to make a good faith estimate of the total amount or range of amounts related to the Proposed Dissolution for each major type of cost, expected to be incurred, or of charges that would result in future cash expenditures.Since the filing of the Original Form 8-K, the Corporation and UFSB have been in the process of developing the Plan and an estimate of related charges. The Corporation’s and UFSB’s current estimate of charges related to the Plan are $3.0 million in the aggregate. Since the filing of the Original Form 8-K, the corporation and UFSB have been in the process of developing the Plan and an estimate of related charges. The corporation’s and UFSB’s current estimate of charges related to the Plan are $3M in the aggregate,
September 4, 2014
08:33 EDTFMDIron Mountain to provide data center colocation services for First Marblehead
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