Glenfed Protests |Misinformation'
LOS ANGELES -- Glenfed Inc., which has been reported to be in merger talks with CalFed Inc., another major California thrift, said Friday that it is asking securities and banking regulators to investigate whether people are intentionally spreading misinformation about the company.
The request was announced by Glenfed chairman Norman Coulson and vice chairman Stephen Trafton, citing the possible spread of "intentionally misleading" statements.
While not actually denying the merger discussions, the executives said, "we are addressing the economic and regulatory challenges before us in a straightforward manner, and misinformation is an unnecessary burden."
Glendale-based Glenfed has been radically restructuring and slashing costs. It is currently profitable and in compliance with all capital requirements.