Bombardier, Inc. is a financial services company.

The class action lawsuit was filed on behalf of all persons and entities that purchased Bombardier Capital Mortgage Securitization Pass-Through Certificates Series 2000A. The claims asserted arise under Sections 10 and 20 of the 1934 Act and New York common law.

The Complaint alleges that during the time period, Bombardier Capital's prospectus disseminated in connection with the offering of the Certificates contained materially false and misleading information concerning the manufactured housing loans originated during 1997 through 1999, which were pooled together to serve as collateral for the Certificates. These misstatements which detailed the underwriting and loan origination procedures and represented that they were in compliance with underwriting standards were influential in obtaining a high-quality credit rating for the Certificates, and in turn enabled the Certificates to trade at artificially inflated values. Truth be known to the Defendants -- but not the investing public -- that all underwriting standards were abandoned and the Company recklessly approved manufactured housing loans to borrowers with shoddy credit and income histories. In late 2002, Fitch rating agency downgraded the Certificates, citing a deterioration in the manufactured housing market. The truth was only revealed, in part, as of February 2, 2004, when Fitch downgraded the Certificates, explaining "a combination of underwriting problems and servicing problems have resulted in the highest cumulative losses of any manufactured housing lender."

On May 16, 2005, a Stipulation and Order of Dismissal was signed by the Court. According to the Order, the Underwriter Defendants were dismissed from the action without prejudice and without costs to any party.

The remaining Defendants filed a Motion to Dismiss the amended Complaint on June 1, 2005. On September 6, the Court issued an Order granting in part and denying in part Defendants' Motion to dismiss. Plaintiff was given leave to amend the Complaint.

Lead Plaintiff filed a Motion for Class Certification on February 17, 2006. On August 1, the Court issued an Order denying the Motion for Class Certification.

On September 20, 2006, the Court entered the Order (Certified Copy) from the U.S. Court of Appeals for the Second Circuit. According to the Order, Lead Plaintiff sought permission to appeal, pursuant to Fed. R. Civ. P. 239(f), the district court's order denying its motion for class certification. Upon due consideration, the Court of Appeals granted Lead Plaintiff permission to appeal. On October 14, 2008, the Court of Appeals affirmed the District Court's ruling.

The parties stipulated to Dismiss the action on February 10, 2009.