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A class action has been filed against the Hartford Financial Services Group (NYSE: HIG) and certain of its officers and directors by stockholders who purchased the company’s common stock between November 5, 2003 and October 13, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.

A national class action has been filed against collection agency Allied Interstate, Inc. alleging that the company violated federal law in its efforts to collect outstanding debts for its clients. The action asserts that Allied's actions violate the federal Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from engaging in abusive, deceptive and unfair practices.

State and federal laws require that lenders deal with consumers in a straightforward and honest manner. The parties have reached a tentative partial settlement in a national class action against lenders First Union National Bank of Delaware, First Union Home Equity Bank, and First Union Home Equity Corporation on behalf of all persons who obtained a home equity or other loan that resulted in a mortgage from the lenders that was brokered or referred to First Union by either Pennsylvania Resource Corporation or First Liberty Financial Services at any time between May 10, 1995, and the eventual date of any judgment in the action.

A class action has been filed in Florida against collection specialist, NCO Financial Services, Inc. The action is brought on behalf of all Florida residents who received a collection letter from NCO Financial which failed to include the statutorily required statement entitling consumers to challenge the validity of the alleged debt within 30 days. The action is brought under the federal Fair Debt Collection Practices Act and Florida law and seeks statutory and punitive damages as well as injunctive and declaratory relief.

A class action lawsuit has been filed on behalf of debtors of the American Arbitration and Recovery Group, LLC. The suit alleges that Affiliated failed to adhere to the requirements of the federal fair debt collection practices act in its interactions with debtors. Additional details are not available at this time but will be reported once they become known.

A nationwide class action has been filed against credit repair service QCS Online, Inc., which does business as Quality Credit Services, on behalf of persons who paid the company up front for credit repair services. The action alleges that the company violates the federal Credit Repair Organizations Act by accepting payment before any promised service has been fully performed, and seeks unspecified compensatory and punitive damages.

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