Doral Financial on the move ahead of hoped-for settlement

|About: Doral Financial Corporation (DRL)|By:, SA News Editor

Doral Financial (DRL +16.6%) and the Puerto Rico Treasury on August 11 entered court-supervised negotiations to settle Doral's lawsuit. The talks had 10 days to run as of August 11, so the shares are getting jiggy ahead of what could be the imminent announcement of a sweet payday for Doral.

To review, Doral has sued the Treasury over its annulment of a deal to refund $229M in taxes to the bank, and thus far, Doral has had its way in court.

Previously: Doral up another 20% following court victory