Countrywide Shares Plunge: report claims bankruptcy fabricated

If the United States financial market was not in a bad way as it is, now it’s being reported that Countrywide Financial Corp shares have plunged over 17% today which RTT News say is “chiefly on a report that the company fabricated bankruptcy documents”.

The stock also suffered as a Lehman Brothers analyst made comments that Countrywide Financial Corp “is unlikely to return to its previous profitability levels” and with other rumors spreading that Countrywide was going to file for bankruptcy.

Should Countrywide file for bankruptcy?