AHM Underwriters Sued Over Offerings

Law360, New York (April 10, 2008, 12:00 AM EDT) -- Creditors in the bankruptcy of home lender American Home Mortgage Inc. have set their sights on Wall Street's biggest firms, accusing the banks of duping investors by making false and misleading statements about AHM public offerings.

The adversary proceeding, filed on April 4 in the U.S. District Court for the Eastern District of New York, names Citigroup Global Markets Inc., Lehman Brothers Inc., Bear Stearns & Co Inc. and Deutsche Bank Securities Inc., among others.

The class action suit, spearheaded by the Teachers' Retirement System of...
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