After NEW's stock dropped nearly 50% in two days it looked like the worst was over. Now the sharks smell blood. From CBS Marketwatch comes a list of 10 class action lawsuits:
The Pomerantz Firm Charges New Century Financial Corporation With Securities Fraud -- NEW
Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit against New Century Financial Corporation
Saxena White P.A. Files Shareholder Suit Against New Century Financial Corporation
Abbey Spanier Rodd Abrams & Paradis, LLP Commences Class Action Securities Fraud Suit Against New Century Financial Corp. - NEW
Scott+Scott, LLP Files Class Action Lawsuit Against New Century Financial Corp. On Behalf of Investors -- NEW
Law Offices of Brodsky & Smith, LLC Announces Class Action Lawsuit Against New Century Financial Corp.
The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against New Century Financial Corp.
Schatz Nobel Izard, P.C. Announces Class Action Lawsuit Against New Century Financial Corp. -- NEW
Ademi & O'Reilly, LLP Announces Filing of Class Action Lawsuit On Behalf of New Century Financial Corp. Investors
Roy Jacobs & Associates Files Class Action Lawsuit On Behalf of New Century Financial Corp. Investors -- NEW
Saturday, February 10, 2007
Looks like the sharks smell blood
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7 comments:
Good, finally we may see some of these human leeches go to jail. I can hear it now, "now son, just give us some info on the what you know and whos involved and your sentence may be reduced" re agents too.
I was wondering when the sub-prime slime was going to get sued .They should of started the lawsuits in 2005 instead of 2007 and it would of saved the investors tons of money . 2006 had to be the year of the most fraudulent loans on record.
I predict counter lawsuits from the sub-prime slime saying that the secondary market funders knew very well the nature of the lending practices . Very hard for me to believe that the investors knew how bad the loans were .
Housing Wizard
New Century is third largest liar loan outfit in the Country. If they crumble it will be a big blow.
I hope all their execs get prison time and they have to service Bubba in the big house. Oh and for all you loan brokers out there don't go thinking you are not immune.
this is from their call in november
The company repurchased 992,500 shares of its common stock during the third quarter of 2006 at an average price of $41.66 per share for an aggregate amount of $41.4 million.
Since the inception of the stock repurchase program in November 2005, the company has purchased an aggregate of 2.4 million shares of its common stock in the open market, at an average price of $39.60 per share (today 38$, round about 25% of the shares that new bought back were sold at the same time from insiders) now well under 30$!!!!!!! well done!
http://immobilienblasen.blogspot.com/2007/02/endgame-for-new-century-new.html
jmf-
These guys had to know the $hit was hitting the fan. Thanks for the link and information!
One of casey serins readers is claiming to have received a Dirty Sanchez from him last weekend. God help this troubled soul.
Hope they threw a towel on the sheets.Don't want to get santorum on them...LOL
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