After getting sued for "alleged misstatements and omissions about its lending policies and procedures," Countrywide Financial and its auditor have agreed to settle the class-action lawsuit. The lead plaintiffs were the NY State Common Retirement Fund and five NYC pensions; NY State lost over $10 million and the city funds lost about $5 million. The Daily News reports that the state and city won't get all of it back, but City Comptroller John Liu Liu said, "Right now, without the settlement, we get nothing. So even if we get a couple of million dollars back, we're ahead." Countrywide said it "denies all allegations of wrongdoing and any liability under the federal securities laws. Countrywide agreed to this settlement to avoid the additional expense and uncertainty associated with continued litigation of plaintiffs' claims and Countrywide's defenses."