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Shareholder Enlarges Class In Suit Against Luminent

Law360 (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....
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