Tuesday August 7, 3:07 pm ET
NEW YORK, NY--(MARKET WIRE)--Aug 7, 2007 -- The law firm of 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 - News) (Other OTC:AHMIQ.PK - News) ("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. ADVERTISEMENT
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.
Plaintiffs are represented by the law firm of Shalov Stone Bonner & Rocco LLP, which has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com
For additional information about the lawsuit, please contact Thomas G. Ciarlone, Jr., at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; e-mail: tciarlone@lawssb.com).
ping
Is this Alan Spector’s law firm? Or am I mixing him up? Does he expect to profit, if so?
This is hardly news. Every company that has a big drop in stock price or goes bankrupt gets a whole slew of class action suits. The lawyers get almost everything, and the members of the class almost nothing.
There are dead Jim!