Glendale Federal Bank will learn Friday whether the government must pay it more than $1 billion for eliminating regulatory goodwill.
"The opinion is pretty well done," Judge Loren A. Smith of the U.S. Court of Federal Claims said Monday. "We are confident we will release Glendale this Friday at 6 p.m."
Glendale would be the first of about 100 so-called regulatory goodwill cases to be decided. The suits collectively seek more than $20 billion in damages for the government's decision to eliminate a favorable accounting treatment granted in the 1980s to acquirers of ailing thrifts.
Shares of Golden State Bancorp, the Glendale, Calif., thrift's $54.8 billion-asset parent company, rose 75 cents Monday, to $23.