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Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Investor Lawsuits
First Quarter 2008 Mortgage Litigation Report

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Shareholder lawsuits and class actions accusing companies of inflating earnings, overstating capital position or otherwise deceiving investors in the company. Other shareholder issues.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Centerline Holding Co. Wolf Popper LLP U.S. District Court for the Southern District of New York na Shareholders who purchased common stock on the open market from March 12, 2007, through Dec. 28, 2007 accuse Centerline of failing to notify investors it was working on the sale of a $2.8 billion tax-exempt affordable housing bond portfolio to Freddie Mac. Civil Action No. 08-cv-1593
Citigroup Inc. Coughlin Stoia Geller Rudman & Robbins LLP U.S. District Court, Southern District of New York na Class action filed on behalf of investors of common stock from April 17, 2006, and Nov. 2, 2007 against Citigroup Inc. for allegedly issuing materially false and misleading statements about its results. na
Countrywide Financial Corp. New York state Comptroller Thomas P. DiNapoli and New York City Comptroller William C. Thompson United States District Court, Central District of California tens of millions of dollars Consolidated class action lawsuit is filed against Countrywide Financial Corp., which is accused of inflating its stock price through material misstatements and omissions on its lending practices. na
Countrywide Financial Corp., Bank of America Corp. Finkelstein Thompson LLP none na Plaintiffs' firm investigates potential shareholder claims involving Countrywide, specifically whether the deal with Bank of America fairly compensates Countrywide shareholders. na
Freddie Mac Ohio Public Employees Retirement Fund U.S. District Court, Northern District of Ohio na Freddie Mac is accused of causing up to $27.2 million in losses to the Ohio Public Employees Retirement Fund by failing to disclose it was heavily investing in subprime mortgages but not protecting itself from the "billion-dollar" risks it incurred. 4:08-cv-00160-JRA Ohio Public Employees Retirement System vs. Federal Home Loan Mortgage Corp., et al.
Freddie Mac Charles H. Johnson & Associates on behalf of shareholders United States District Court for the Southern District of New York na Class action filed on behalf of investors of Freddie Mac's publicly traded securities during Aug. 1, 2006, through Nov. 19, 2007, accusing Freddie of making false and misleading statements concerning its business, risk management and procedures for protection against mortgage industry problems. na
National City Corp.

Second article

Holzer Holzer & Fistel, LLC; Dreier LLP United States District Court for the Northern District of Ohio na Investor class action filed on behalf of shareholders that purchased stock from April 30, 2007, to Jan. 2, 2008 based on allegations that the company hid the risk of its subprime holdings, held inadequate reserves and had no reasonable basis for favorably projecting dividend payments. na
Patrick S. Flood and Kevin D. Race Robert J. Harbour, attorneyChitwood Harley Harnes LLP U.S. District Court, Northern District of Georgia, Atlanta Division na Investors who purchased common stock of the now bankrupt HomeBanc Corp. during Sept. 26, 2005, through Aug. 3, 2007 have sued the company's top executives, accusing them of securities law violations, including misrepresenting HomeBanc's liquidity position and the risk of loss to investors. Robert J. Harbour, Individually and on behalf of all others similarly situated v. Patrick S. Flood and Kevin D. Race, CIVIL ACTION NO. 1 08-CV-0027
Washington Mutual Inc. Barbara Alexander, attorney Hagens Berman Sobol Shapiro U.S. District Court in Seattle, Wash. na WaMu employees whose 401(k) plan accounts include investments in company stock from April 18, 2006 until present, file class action accusing WaMu of ERISA violations for failing to adequately monitor the plan and advise participants when the company stock investment was no longer prudent, resulting in over $150 million in losses that employees seek to recover. na
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.



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