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From the Boston Business Journal…

The weight of First Marblehead Corp.’s dispute with the IRS is getting heavier, and management expects “a robust crowd” at its annual meeting next week.

The Boston-based private student lending firm says it will spend as much as $500,000 a quarter on two high powered law firms hired to fight the IRS.

It is also now contending with two investor lawsuits claiming the firm should have never accepted tax refunds that have since led the IRS to slap First Marblehead with a bill for $300 million plus interest and fees. More here.


November 6th, 2013

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Gunboat 60 sailing in Annapolis, MD.