Berkowitz Having Rough Monday; Down $19M Early On One Position

One of the major fall-outs stemming from reports today on Regions Financial (NYSE: RF) is Bruce Berkowitz Fairholme Capital management.

The fund has lost about $19.23 million today following reports that Regions' Board is investigating into whether or not executives delayed disclosure that some loans were defaulting during the financial crisis. Regions shares are down over 2.6 percent today.

With its 13F quarter filing, Fairholme reported holding 124,035,304 shares of Regions, or about 10 percent of all outstanding, according to data at StreetInsider.com's Hedge Fund Insider.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• PENN Entertainment (PENN) Climbs after Hedge Fund Greenlight Takes Stake
• Browning West and Glenn Chamandy Comment on Gildan Activewear’s (GIL) Defensive and Reactionary Board Refreshment
• Ancora Sends Important Letter to Fellow Shareholders About Our Collective Opportunity to Transform and Turn Around Norfolk Southern (NSC)