News
Shalov Stone Bonner & Rocco LLP Files Securities Fraud Class Action Against American Home Mortgage Investment Corp.
Shalov Stone Bonner & Rocco LLP
08/21/2007
According to the complaint, the defendants violated the Securities Exchange Act of 1934. Specifically, the complaint alleges that, during the Class Period, the defendants issued materially false and misleading statements that misrepresented and failed to disclose, among other things, that: rising levels of loan delinquencies were depressing the Company's earnings; margins and profits were decreasing due to falling prices caused by increasing difficulties with selling loans; and, due to the foregoing, the Company was overstating its financial results by failing to write down the value of many of the loans in its portfolio that had declined substantially in value.
For additional information about the lawsuit, please contact Thomas G. Ciarlone, Jr., at (212) 239-4340, or by e-mail: tciarlone@lawssb.com
Complaint
Certification
Shalov Stone Bonner & Rocco LLP has filed a securities fraud class action on behalf of all investors who purchased or otherwise acquired the securities of American Home Mortgage Investment Corp. (NYSE:AHM) ("AHM" or the "Company"), in the period between July 26, 2006 and July 27, 2007, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Eastern District of New York and names as defendants Michael Strauss and Stephen A. Hozie, respectively the Company's CEO and CFO during the Class Period.
According to the complaint, the defendants violated the Securities Exchange Act of 1934. Specifically, the complaint alleges that, during the Class Period, the defendants issued materially false and misleading statements that misrepresented and failed to disclose, among other things, that: rising levels of loan delinquencies were depressing the Company's earnings; margins and profits were decreasing due to falling prices caused by increasing difficulties with selling loans; and, due to the foregoing, the Company was overstating its financial results by failing to write down the value of many of the loans in its portfolio that had declined substantially in value.
For additional information about the lawsuit, please contact Thomas G. Ciarlone, Jr., at (212) 239-4340, or by e-mail: tciarlone@lawssb.com
Complaint
Certification