According to a press release dated February 8, a class action lawsuit on behalf of all persons and entities that purchased Bombardier Capital Mortgage Securitization Pass-Through Certificates Series 2000A. The claims asserted arise under Sections 10 and 20 of the 1934 Act and New York common law.

The complaint alleges that during the Time Period, Bombardier Capital's prospectus disseminated in connection with the offering of the Certificates contained materially false and misleading information concerning the manufactured housing loans originated during 1997 through 1999, which were pooled together to serve as collateral for the Certificates. These misstatements which detailed the underwriting and loan origination procedures and represented that they were in compliance with underwriting standards were influential in obtaining a high-quality credit rating for the Certificates, and in turn enabled the Certificates to trade at artificially inflated values. Truth be known to the defendants -- but not the investing public -- that all underwriting standards were abandoned and the Company recklessly approved manufactured housing loans to borrowers with shoddy credit and income histories. In late 2002, Fitch rating agency downgraded the Certificates, citing a deterioration in the manufactured housing market. The truth was only revealed, in part, as of February 2, 2004, when Fitch downgraded the Certificates explaining "a combination of underwriting problems and servicing problems have resulted in the highest cumulative losses of any manufactured housing lender."

If you bought Bombardier, Inc. securities between Thursday, January 27, 2000 and Tuesday, May 06, 2003, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney.