E-Trade Faces Suit Amid Problems In Mortgage Market

Law360, New York (November 6, 2007, 12:00 AM EST) -- A shareholder has filed a proposed class action lawsuit against E-Trade Financial Corporation, alleging the company violated federal securities laws by misleading or not being forthright with investors.

The suit, which was filed Oct. 30 in the U.S. District Court for the Southern District of New York, accused the company of failing to disclose that it was experiencing increased delinquencies in its mortgage and home equity portfolios, among other things.

The proposed class action, which was filed by shareholder Robert D. Thulman, would include anyone who...
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