Welcome to DSNews.com—delivering stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Fri Sep 10, 2010
First American Corp. is facing a class action lawsuit that alleges the company violated the Securities Exchange Act of 1934 by dispensing “material misrepresentations to the market” causing market prices to artificially inflate, according to a statement issued by Oklahoma City-based Federman & Sherwood, the law firm filing the suit.
The case, which was filed in the United States District Court for the Southern District of New York, includes those in the shareholders class affected by the inflated prices, which ran from April 26, 2006 to November 6, 2007.
Do you have a news tip, story idea, or suggestion for DSNews.com or DS News magazine?
Simply e-mail editor@dsnews.com.
Whether you choose to tell us a little about yourself or prefer anonymity, we appreciate your contribution!
