Shareholder Enlarges Class In Suit Against Luminent

Law360, New York (October 8, 2007, 12:00 AM EDT) -- A plaintiff in a shareholder lawsuit against Luminent Mortgage Capital Inc. has expanded the scope of his proposed class by accusing the real estate investment trust of falsely claiming it was insulated from the downturn in the subprime mortgage market as far back as March.

Howard J. Kaplowitz Ira filed an amended complaint on Monday in the U.S. District Court for the Northern District of California, alleging that Luminent, CEO S. Trezevant Moore Jr. and CFO Christopher J. Zyda misled investors regarding the company's earning potential....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.