Fremont General Corp. reported on Thursday a much larger fourth-quarter loss that originally expected as the Santa Monica, Calif.-based company took a large charge to continue scaling back its workers compensation insurance operation.
Pre-tax charges total $267.8 million, including $198.0 million for goodwill. The news resulted in shares falling 34 cents, or about 9 percent, to $3.46 on the New York Stock Exchange.
The stock has lost 89 percent of its value over the last three years based on struggles with its workers compensation business.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
El Niño Likely Strongest in 75 Years, US Forecasters Say 
Allstate Sued by Oklahoma for Alleged Scheme to Underpay Claims 
What 124 Future Business Leaders Really Think About AI and Work 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
