$37M Settlements End AHM Securities MDL

Law360, New York (January 15, 2010, 6:36 PM EST) -- American Home Mortgage Investment Corp., auditor Deloitte & Touche LLP and a raft of underwriters have paid more than $37 million to settle class allegations that they deceived investors about the bankrupt subprime mortgage lender’s dicey practices and impending collapse.

Judge Thomas C. Platt gave final approval Thursday to the settlements in the U.S. District Court for the Eastern District of New York, establishing a $37.25 million fund for investors claiming they bought inflated AHM stock on false assurances of the company’s well-being and scrupulous lending...
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