Stockholders File Lawsuit Against Home Equity Mortgage Trust |
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The complaint charges certain officers and directors of the underwriter Credit Suisse, as well as credit ratings institutions Moody's and DBRS with misleading investors in regards to the risk levels of Mortgage Pass-Through Certificates. Plaintiffs allege that the Underwriter did not use proper due diligence in assessing the securities and that the ratings agencies assigned the securities the highest ratings levels despite being tied to the high-risk subprime market.
The complaint was originally filed in the Supreme Court in the State of New York on June 3, 2008 but was removed to the Southern District Court of New York after a motion filed by Moody's.
If you bought Home Equity Mortgage Trust securities and would like to obtain information about the Home Equity Mortgage Trust lawsuit, then you are invited to call Kahn Gauthier Swick, LLC toll free at (866) 467-1400 to speak with an attorney or visit www.kgscounsel.com.
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