Wilshire Financial terminated Wiederhorn and Mendelsohn on September 3 of last year. The two then sued Wilshire and its outside directors for $20 million for wrongful termination.
Wilshire Financial also announced Monday the end to all disputes and pending litigation with Wilshire Real Estate Investment Inc., which Wiederhorn and Mendelsohn still direct. The litigation related to the termination of various agreements and other business relationships between the companies.
Both companies are recovering from the ordeal, which began in the fall of 1998 when Wilshire Financial, a highly-leveraged packager of troubled loans then headed by Weiderhorn and Mendelsohn, collapsed as its market for such securities dried up.
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