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Here are other recently filed cases
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| Wachovia Corp. (WB) | |
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A class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of Downey Financial's common stock for the period of October 16, 2006 through March 14, 2008. On October 10, 2007, Downey announced that it expected to incur an operating loss for the 3Q 2007 due to the continued weakening in the housing market. Then, on March 17, 2008, before the markets opened, Downey announced its monthly selected financial results for the 13 months ended February 29, 2008, demonstrating a significant increase in non-performing assets to almost 11% of total assets, dramatically up from 1.2% in May 2007. On this disclosure, Downey's stock fell to close at $18.82 per share on March 17, 2008. During the Class Period, Downey's stock traded as high as $74.85 per share in June 2007. Downey and certain of its officers and directors may have violated the Securities Exchange Act of 1934. If you purchased or otherwise acquired Downey's common stock from October 16, 2006 through March 14, 2008, you may, no later than July 15, 2008, move the court to be appointed as lead plaintiff. The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected. You may apply to be appointed lead plaintiff through Zwerling Schachter. If you wish to discuss this securities class action or have any questions concerning your rights and interests with respect to this matter, please contact Zwerling Schachter. click
here to submit information, comments or questions A class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of purchasers of Franklin Bank's common and preferred stock for the period of April 26, 2007 through May 1, 2008. On May 1, 2008, Franklin Bank announced that it would have to restate certain of its 2007 financial results. The filed complaint alleges that defendants engaged in a variety of accounting improprieties, including failure to charge off uncollectible loans and to mark Franklin Bank's loans to market. As a result of the misconduct alleged, defendants understated Franklin Bank's delinquent, nonperforming, and uncollectible loans. By the end of the Class Period, Franklin Bank's common stock was trading below $2 a share - a significant decline from its Class Period high of nearly $17 a share. Franklin Bank and certain of its officers and directors may have violated the Securities Exchange Act of 1934. If you purchased or otherwise acquired Franklin Bank's common and preferred stock from April 26, 2007 through May 1, 2008, you may, no later than August 5, 2008, move the court to be appointed as lead plaintiff. The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected. You may apply to be appointed lead plaintiff through Zwerling Schachter. If you wish to discuss this securities class action or have any questions concerning your rights and interests with respect to this matter, please contact Zwerling Schachter. click
here to submit information, comments or questions A class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Wachovia Corporation's (WB) securities for the period of May 8, 2006 through April 11, 2008. On April 14, 2008, before the markets opened, Wachovia announced a loss of $350 million, or $0.20 per share, for the 1Q 2008 and attributed the weak results to a $2.8 billion increase in credit loss reserves. This included $1.1 billion for the "Pick-A-Pay" reserve build, a lending program promoted by Wachovia. The increase in Pick-A-Pay reserves was attributed to the Company's adoption of a "refined reserve modeling" that resulted in "higher than expected loss factors on Pick-a-Pay," and $2 billion in mark-to-market losses for mortgage backed securities. On this news, Wachovia's stock closed at $25.55 a share. During the Class Period, Wachovia's stock traded as high as nearly $60 a share. If you purchased or otherwise acquired Wachovia's securities from May 8, 2006 through April 11, 2008, you may, no later than August 8, 2008, move the court to be appointed as lead plaintiff. The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected. You may apply to be appointed lead plaintiff through Zwerling Schachter. If you wish to discuss this securities class action or have any questions concerning your rights and interests with respect to this matter, please contact Zwerling Schachter. click
here to submit information, comments or questions
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