Entries Tagged 'American Home Mortgage - Press Releases' ↓
August 10th, 2007 — American Home Mortgage - Financials, American Home Mortgage - Press Releases
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 3, 2007
American Home Mortgage Investment Corp.
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(Exact Name of Registrant as Specified in Its Charter)
Maryland 001-31916 20-0103914
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
538 Broadhollow Road, Melville, New York 11747
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(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (516) 396-7700
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Continue reading → American Home Mortgage Financials American Home Mortgage Press Releases
August 8th, 2007 — American Home Mortgage - Lawsuits, American Home Mortgage - Press Releases
PHILADELPHIA–(BUSINESS WIRE)–The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the Eastern District of New York, on behalf of purchasers of the publicly traded securities of American Home Mortgage Investment Corporation (”American Home Mortgage” or the “Company”) (NYSE:AHM) between July 26, 2006 through July 27, 2007, inclusive (the “Class Period”). Also included are those who purchased shares in the Secondary Offering on April 30, 2007.
The Complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission during the Class Period. Specifically, the Complaint alleges that Defendants failed to disclose the following: (i) that the Company was experiencing an increasing level of loan delinquencies which was depressing its earnings; (ii) that the Company was experiencing increasing difficulties in selling its loans and, therefore, was required to decrease prices, thereby reducing margins and profits; and (iii) as a result of the foregoing, the Company was overstating its financial results by failing to write-down the value of certain of the loans in its portfolio as these loans had declined substantially in value.
On June 28, 2007, American Home Mortgage issued a press release announcing that it will take “substantial charges for credit-related expenses in the second quarter.” The Company reported that the increase in losses was related to its practice of extending a three month timely payment warranty that the Company granted to loan buyers who purchased stated income loans. In response to this announcement, the price of American Home Mortgage stock declined from $20.91 per share to $18.38 per share. Then, on July 27, 2007, the Company announced that would delay paying its dividend. On July 30, 2007, the NYSE halted trading in American Home Mortgage stock before the market opened.
If you purchased American Home Mortgage securities during the Class Period, you may, no later than October 1, 2007, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the “largest financial interest†in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the “largest financial interest,†and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth.
If you have sustained substantial losses in American Home Mortgage securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.
If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel Robert M. Roseman toll-free at 888-844-5862 or via e-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com.
Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pa., concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm’s reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.
Contacts
Spector, Roseman & Kodroff, P.C.
Robert M. Roseman, 888-844-5862
American Home Mortgage Lawsuits American Home Mortgage Press Releases
August 7th, 2007 — American Home Mortgage - Lawsuits, American Home Mortgage - Press Releases
Attorney Advertising. The law firm of Milberg Weiss LLP announces its investigation of American Home Mortgage Investment Corp. (NYSE: AHM) (”American Home Mortgage ” or the “Company”), certain of American Home Mortgage’s officers and directors, as well as Citigroup Global Markets Inc., the underwriter of the company’s May 4, 2007 common stock offering, for allegedly issuing materially false and misleading statements and potentially violating federal securities laws, as well as certain other duties.
American Home Mortgage is a real estate investment trust (REIT) which has engaged in the investment and origination of residential mortgage loans in the United States. The Company primarily originated and sold securitized adjustable-rate mortgage loans, as well as engaged in the sale of mortgage loans to institutional investors and the servicing of mortgage loans owned by others.
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August 4th, 2007 — American Home Mortgage - Lawsuits, American Home Mortgage - Press Releases
PHILADELPHIA, Aug. 2, 2007 (PRIME NEWSWIRE) — Law Offices Bernard M. Gross, P.C. announced that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York, Civil Action No. 07-3193, on behalf of purchasers of the securities of American Home Mortgage Investment Corp. (”American Home”) (NYSE:AHM) between July 26, 2006 and July 27, 2007, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). The case is pending before the Honorable Thomas C. Platt.
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August 2nd, 2007 — American Home Mortgage - News Posts, American Home Mortgage - Press Releases
MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 2, 2007–American Home Mortgage Investment Corp. (NYSE:AHM) today reported that, in light of the liquidity issues resulting from extraordinary disruptions occurring in the secondary mortgage market, the Company has determined to significantly reduce its operating structure as it seeks the most appropriate course of resolution to preserve the value of its remaining assets.
American Home has ceased taking mortgage applications and has notified all of its production employees that they will be separated effective tomorrow, August 3, 2007. Accordingly, the Company employee base will be reduced from over 7,000 to approximately 750. The Company currently is maintaining its thrift and servicing businesses.
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