Thornburg Officers Dismissed From Subprime Suit

Law360, New York (January 28, 2010, 4:58 PM EST) -- Several officers and directors of bankrupt lender Thornburg Mortgage Inc. have been dismissed from a proposed class action accusing them of misleading investors in the run-up to the company's collapse.

Judge James Browning of the U.S. District Court for the District of New Mexico on Wednesday dismissed claims against the bulk of the company insiders accused in the suit.

Judge Browning declined, however, to dismiss the case against company CEO Larry Goldstone, who allegedly lied about TMI's involvement in the subprime lending market.

Investors first sued...
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