Cases

American Home Mortgage Investment Corp. Securities Fraud Class Action

Gardy & Notis, LLP has filed a class action lawsuit on behalf of all purchasers of the publicly traded securities of American Home Mortgage Investment Corp. (NYSE: AHM) between July 26, 2006 and July 27, 2007.

The complaint charges American Home Mortgage and its Chief Executive Officer and Chief Financial Officer with violations of the federal securities laws by failing to disclose AHM's inadequate reserves for delinquent loan repurchases. By failing to properly disclose that AHM was operating without adequate reserves in relation to its portfolio of loan products, as well as AHM's failed plan to repurchase delinquent loans, AHM materially misrepresented to investors the true facts concerning its financial performance and prospects. AHM has since announced that it will lay off most of its employees and shut down almost all of its operations.

For more information regarding the lawsuit or to obtain a copy of the complaint or any Court filings, please contact us.