ACA Capital Holdings, Inc. - Securities Class Action

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Stanford Law School

ACA Capital Holdings, Inc. Summary: The original class action has been commenced on behalf of all persons who purchased the common stock of ACA Capital Holdings, Inc. pursuant and/or traceable to the Company’s initial public offering.

The complaint charges ACA Capital and certain of its officers and directors with violations of the Securities Act of 1933. ACA Capital is a holding company that provides financial guaranty insurance products to participants in the global credit derivative, structured finance capital, and municipal finance capital markets.

On or about November 9, 2006, ACA Capital priced its IPO of 6,875,000 shares of newly issued common stock and 23,541 shares of existing common stock at $13 per share, generating gross proceeds of $89.4 million. The Registration Statement for the IPO described positively ACA Capital’s business and the Company’s collateralized debt obligation (“CDO”) asset management business. The complaint alleges that the Registration Statement for the IPO contained inaccurate statements of material fact because it failed to disclose that the Company’s CDO assets were materially impaired and overvalued.

On August 11, 2008, the Court granted the motion to consolidate the two related actions and further granted the motion to appoint lead plaintiff and lead plaintiff's selection of lead counsel. Guido Bergamini is the lead plaintiff and Coughlin Stoia Geller Rudman & Robbins LLP and and Abraham Fruchter & Twersky are lead counsels in this consolidated action. On November 14, 2008, the lead plaintiff filed a Consolidated Amended Class Action Complaint. On January 27, 2009, the defendants filed a motion to dismiss the Consolidated Amended Class Action Complaint. On January 15, 2010, the Court entered Memorandum and Opinion #98455. According to the Opinion, the Defendants' motion is granted and the Complaint is dismissed with prejudice.

INDUSTRY CLASSIFICATION:
SIC Code: 6200
Sector: Financial
Industry: Insurance (Prop. & Casualty)

COMPANY/ISSUER NAME:	ACA Capital Holdings, Inc.
COMPANY/ISSUER TICKER:	ACA
COMPANY WEBSITE:	http://www.aca.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Blackmoss Investments, Inc., et al. v. ACA Capital Holdings, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-10528
JUDGE NAME: Hon. Robert W. Sweet
DATE FILED: 11/21/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 11/10/2006	CLASS PERIOD END: 11/21/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC) 1100 New York Avenue, N.W., Suite 500, West Tower, Washington, DC, 20005 (voice) 202.408.4600, (fax) 202.408.4699, lawinfo@cmht.com Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 200 Broadhollow, Suite 406, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 11/21/2007
Order Of Consolidation
Type: Order of Consolidation		Date on the document: 08/11/2008

REFERENCE COMPLAINT

Blackmoss Investments Inc., et al. v. ACA Capital Holdings, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-10528
JUDGE NAME: Hon. Robert W. Sweet
DATE FILED: 11/14/2008	SOURCE: Docket
CLASS PERIOD START: 11/10/2006	CLASS PERIOD END: 11/21/2007
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza) One Pennsylvania Plaza, Suite 1910, New York, NY, 10119 (voice) 212.279.5050, (fax) 212.279.3655, JFruchter@FruchterTwersky.com Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 58 South Service Road, Suite 200, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 11/14/2008
Opinion
Type: Other		Date on the document: 01/14/2010
Judgment
Type: Other		Date on the document: 01/15/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/15/2010

OTHER DOCUMENTS
Class Action Complaint - Jury Trial Demanded
Case Name and/or Number: Andrew F. Rose, et al. v. ACA Capital Holdings, Inc., et al.
Type: Complaint		Date on the document: 01/11/2008

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