Subprime Lender Hit With Securities Class Action

Law360, New York (May 2, 2007, 12:00 AM EDT) -- Mortgage lending company Accredited Home Lenders Holding Co. was hit by yet another class action, the fifth filed in the Southern District Court of California since the collapse of the subprime mortgage market caused its shares to crash.

The complaint, headed by Gutride Safier Reese LLP, charges Accredited Home and its officers and directors with violations of the Securities Exchange Act. It was filed on behalf of purchasers of Accredited Home stock between Nov. 1, 2005 and March 12, 2007.

During that period, Accredited Home issued...
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