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Home Equity Mortgage Trust Summary: The complaint was originally filed in the Supreme Court in the State of New York on June 3, 2008 but was removed to the Southern District Court of New York after a motion filed by Moody's.
The complaint charges certain officers and directors of the underwriter Credit Suisse, as well as credit ratings institutions Moody's and DBRS with misleading investors in regards to the risk levels of Mortgage Pass-Through Certificates. Plaintiffs allege that the Underwriter did not use proper due diligence in assessing the securities and that the ratings agencies assigned the securities the highest ratings levels despite being tied to the high-risk subprime market.
On January 22, 2009, Judge Paul A. Crotty signed the Order granting the motion to appoint the New Jersey Carpenters Health Fund as lead plaintiff and approved the lead plaintiff’s selection of the law firm of Schoengold Sporn Laitman & Lometti, P.C. as lead counsel. On March 23, 2009, the lead plaintiffs filed an Amended Class Action Complaint. On June 24, 2009, the defendants responded by filing a motion to dismiss the Amended Class Action Complaint. On June 25, 2009, the lead counsel was substituted with Cohen Milstein Sellers & Toll, PLLC.
INDUSTRY CLASSIFICATION:
SIC Code: 6189
Sector: Financial
Industry: Investment Services
| COMPANY/ISSUER NAME: | Home Equity Mortgage Trust 2006-5 |
| COMPANY/ISSUER TICKER: | |
| COMPANY WEBSITE: |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| New Jersey Carpenters Health Fund, et al. v. Home Equity Mortgage Trust, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint For Violations Of Section 11, 12 And 15 Of The Securities Exchange Act Of 1933 | |||
| Type: Complaint | Date on the document: 06/23/2008 | ||
| Order | |||
| Type: Order Appointing LP/LC | Date on the document: 01/22/2009 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| New Jersey Carpenters Health Fund, et al. v. DLJ Mortgage Capital, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 09/23/2009 | ||
| OTHER DOCUMENTS | |||
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| Type: | Date on the document: | ||
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