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Case ID: 5208 | Stocks | 11/03/2008
This case was removed from the New York State Supreme Court to the Federal United States District Court for the Southern District of New York. On October 14, 2008,the complaint and notice of removal was filed in the federal district court.
The complaint alleges violations of Sections 11, 12 and 15 of the Securities Act of 1933 after the sales of Certificates, backed by pools of one- to four-family residential,payment-option, adjustable-rate first lien mortgage loans with a negative amortization feature.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest The parties have reached a tentative $6.25 million settlement in several consolidated class actions filed against Berkshire Realty Company, Inc., (formerly NYSE:BRI) and certain of its officers and directors by stockholders who purchased the company's common stock between June 21, 1999, and October 15, 1999. The actions claim that the defendants violated federal securities laws by breaching their fiduciary duties when they engineered a going-private, cash-out merger transaction in 1996 and 1997. The court-order notice of settlement does not specify a claims deadline -- persons eligible to take part in the settlement should contact attorneys for the class as soon as possible. A class action has been filed against DreamWorks Animation SKG, Inc. (NYSE:DWA), certain of its officers and directors by stockholders who purchased the company's common stock between October 27, 2004 and May 10, 2005. 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. The parties have reached a tentative $15.25 million settlement in a class action filed against sportswear company Ashworth, Inc., (Nasdaq:ASHW) and certain of its officers and directors by stockholders who purchased the company's common stock between September 4, 1997, and July 15, 1998. A claims deadline had apparently not yet been set as of July 9, 2004. Persons eligible to take part in the settlement should contact the attorneys for the class for more information. A class action has been filed against Printcafe Software, Inc. (Nasdaq: PCAF) and certain of its officers and directors by stockholders who purchased the company's common stock between June 18 and October 22, 2002. A settlement has been reached in a stockholder action filed against TransFinancial Holdings, Inc. with respect to its alleged mishandling of a management buyout. Under the proposed settlement, claimants will share from the proceeds of a 2.5 Million dollar fund. Claimants who wish to participate in the settlement have until February 8, 2005 to file claims. The settlement will not become final until it has been reviewed and approved by the court at a fairness hearing, which has been scheduled for February 8, 2005. According to a press release dated November 26, 2008, the complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements were materially false and misleading. |
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