AHM Seeks $5M To Defend Execs In Securities Suits

Law360, New York (December 17, 2008, 12:00 AM EST) -- American Home Mortgage Investment Corp. is looking to procure an additional $5 million in insurance proceeds for current and former executives facing securities fraud charges related to the company's bankruptcy.

In a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware, AHM disclosed that roughly 19 securities class actions had come in around the time of its Chapter 11 filing.

In April, the court entered an order allowing the company's officers and directors to receive $5 million for defense costs. But that...
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