Western Alliance sues Jefferies for $126M in First Brands fallout [Yahoo! Finance]
Western Alliance Bancorporation (DE) (WAL)
Last western alliance bancorporation (de) earnings: 4/16 04:26 pm
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Source: Yahoo! Finance
Brands was unexpected, since Western Alliance had previously expressed confidence in its contract with Jefferies. Supporting data: A Jefferies affiliate had paid off more than $211 million of the $337 million debt since Western Alliance extended the loan last fall. Forward look: Western Alliance believes it will win its suit against Jefferies and recover the full $126 million, but said the legal process will take time to resolve. The high-profile bankruptcy of the auto-parts company First Brands Group has struck again. Western Alliance Bancorp. announced Friday that it is suing Jefferies Financial Group after Jefferies' affiliates backpedaled on previous assurances that they could pay off a large commercial loan balance. The loans were collateralized by accounts receivable purchased from the now-collapsed First Brands, which has been accused of fraud. Phoenix-based Western Alliance charged off the entire $126.4 million balance, a reversal of its prior confidence in its contr
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WAL
Earnings
- 1/26/26 - Beat
WAL
Sec Filings
- 3/6/26 - Form 8-K
- 2/23/26 - Form 10-K
- 2/20/26 - Form 8-K
- WAL's page on the SEC website