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Defendant
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Plaintiff
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Court
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Amount
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Overview
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Case Title
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Case Number | Date Filed | Link to Story |
| National City Corp., Peter E. Raskind, David A. Daberko and Jeffrey D. Kelly | Senior Convertible Note Investor | U.S. District Court for the Northern District of Ohio, Eastern Division | $20,000,000,000 | Lawsuit accuses the defendants of misrepresenting the quality of $20 billion in residential mortgages. | na | na | 2008 | www.mortgagedaily.com/InvestorLawsuits123008.asp |
| NovaStar Financial Inc. | na | U.S. District Court for the Western District of Missouri | $7,000,000 | Without admitting fault, NovaStar Financial Inc. has agreed to pay more than $7 million to settle a pending investor class action. | na | na | na | www.mortgagedaily.com/InvestorLawsuits123008.asp |
| Wachovia, its directors, and Wells Fargo | Irving Ehrenhaus | Superior Court for the County of Mecklenburg, North Carolina | na | A class action lawsuit that challenged the acquisition of Wachovia Corp. by Wells Fargo & Co. has been settled by Wachovia. | Irving Ehrenhaus v. John D. Baker, et al. | na | na | www.mortgagedaily.com/InvestorLawsuits123008.asp |
| Fannie Mae | Common stock investors from April 17, 2007, until November 2008 | U.S. District Court for the District of Columbia | na | “An investor class action was commenced against Fannie Mae; the lawyers seek to include investors of common stock from April 17, 2007, until now. | na | na | na | www.mortgagedaily.com/Mergers111108.asp |
| GARRETT THORNBURG, LARRY A. GOLDSTONE, ANN-DRUE M. ANDERSON, DAVID A. ATER, JOSEPH H. BADAL, ELIOT R. CUTLER, MICHAEL B. JEFFERS, IKE KALANGIS, FRANCIS I. MULLIN, III, STUART C. SHERMAN, DAVID J. MATLIN, MARK R. PATTERSON, THOMAS COOLEY, MP TMAC LLC, MP TMA, CAYMAN) LLC, MATLIN PATTERSON LLC, d/b/a MATLINPATTERSON GLOBAL ADVISERS LLC) and THORNBURG MORTGAGE, INC. | CURTIS W. RONEY JR. and investors who tendered shares of Thornburg Series C, D, E or F preferred stock of Thornburg Mortgage Inc. | U.S. District Court for the District of New Mexico | na | A class-action lawsuit was filed on behalf of investors who tendered shares of Thornburg Series C, D, E or F preferred stock of Thornburg Mortgage Inc. In addition to Thornburg, directors and MatlinPatterson LLC are accused of violating federal securities laws. | CURTIS W. RONEY, JR., on behalf of himself and all others similarly situated, Plaintiff, vs. GARRETT THORNBURG, LARRY A. GOLDSTONE, ANN-DRUE M. ANDERSON, DAVID A. ATER, JOSEPH H. BADAL, ELIOT R. CUTLER, MICHAEL B. JEFFERS, IKE KALANGIS, FRANCIS I. MULLIN, III, STUART C. SHERMAN, DAVID J. MATLIN, MARK R. PATTERSON, THOMAS COOLEY, MP TMAC LLC, MP TMA (CAYMAN) LLC, MATLIN PATTERSON LLC (d/b/a MATLINPATTERSON GLOBAL ADVISERS LLC) and THORNBURG MORTGAGE, INC., Defendants. | na | na | www.mortgagedaily.com/Mergers110308.asp |
| Ace Mortgage and Countrywide Home Loans | na | na | na | The lawsuit was alleged breach of fiduciary duty. | na | na | August 12, 2008 | www.mortgagedaily.com/ClosureAce102808.asp |
| Bear Stearns & Co. and JP Morgan Securities Inc. | Purchasers of Fannie Mae Preferred Stock, Series S | na | na | Customers of Bear Stearns & Co. and JPMorgan Securities Inc. who held large, concentrated positions in Fannie’s preferred stock are being solicited by the securities law firm of Klayman & Toskes, P.A., to join a class action lawsuit. The complaint alleges the underwriters knew or recklessly disregarded that Fannie was massively undercapitalized because of its over-concentration in subprime investments and Alt-A mortgages. | Purchasers of Fannie Mae Preferred Stock, Series S, plaintiffs, v. Bear Stearns & Co. and JPMorgan Securities Inc. | Case No. 08-cv-08609 | na | www.mortgagedaily.com/Mergers102108.asp |
| Freddie Mac | Freddie Mac investors from Nov. 29, 2007, to Aug. 5, 2008 | na | na | Class action lawsuit filed on behalf of individuals who invested in the company’s securities from Nov. 29, 2007, to Aug. 5, 2008 | na | 08 CV 07281 | August 5, 2008 | www.mortgagedaily.com/mergers101408.asp |
| Fannie Mae | Investors who purchased securities from Dec. 6, 2007, to Sept. 5, 2008 | U.S. District Court for the Southern District of New York | na | Class action lawsuit alleges that Fannie issued a series of material misrepresentations that had the effect of artificially inflating the market price. | na | na | na | www.mortgagedaily.com/mergers101408.asp |
| Goldman Sachs & Co., Goldman Sachs Mortgage Company, GS Mortgage Securities Corp., GSAA Home Equity Trust | NECA-IBEW HEALTH & WELFARE FUND | U.S. District Court for the Southern District of New York | na | Class action filed on behalf of investors in some GS Mortgage Securities Corp. securitizations issued last year; defendants allegedly filed a fraudulent registration statement with the SEC on Jan. 31, 2007. | NECA-IBEW HEALTH & WELFARE FUND, Individually and On Behalf of All Others Similarly Situated vs. GOLDMAN, SACHS & CO., et al. | na | Dec. 11, 2008 | www.mortgagedaily.com/InvestorLawsuits123008.asp |
| Credit-Based Asset Servicing and Securitization LLC, Merrill Lynch Mortgage Investors Inc. and some officers and directors, as well as the issuers and underwriters of the certificates. | IRON WORKERS LOCAL NO. 25 PENSION FUND | U.S. District Court for the Southern District of New York | na | The defendants allegedly filed an SEC registration that misled investors about underwriting standards, LTVs, DTI ratios and appraisals on the underlying loans. | IRON WORKERS LOCAL NO. 25 PENSION FUND, Individually and On Behalf of All Others Similarly Situated vs. CREDIT-BASED ASSET SERVICING AND SECURITIZATION LLC, et al. | na | na | www.mortgagedaily.com/InvestorLawsuits123008.asp |
