securities litigation

Sub-Prime Problems Go Countrywide

New York Times: Judge Says Countrywide Officers Must Face Suit by Shareholders. Directors and officers of Countrywide Financial, the beleaguered mortgage lender, must answer shareholder accusations of insider trading and an overall failure to monitor lending practices that led to the company’s collapse, a federal judge in California has ruled.

I’ve added Countrywide Financial Corp. contracts to the website, including the Investment Agreement between Countrywide Financial Corp. and Bank of America.

ipo securities litigation

IPO Tanks. Lawyers Issue Press Release.

Prime Newswire: Investor Notice: KGS Announces Investigation on Behalf of Purchasers of Sourcefire, Inc. Kahn Gauthier Swick, LLC (“KGS”) announces that it has commenced an investigation into Sourcefire, Inc. (“Sourcefire” or the “Company”) (Nasdaq:FIRE) to determine whether it has violated federal securities laws by selling stock pursuant to a materially false and misleading prospectus in or about March, 2007.

Sourcefire’s stock has sunk since it’s IPO. We haven’t found any violations of federal securities laws, but we just want to let you know that we’re starting to look into it. And, that is worth a press release? Sourcefire Inc. contracts have been added. No, we will not be issuing a press release. Bah!