Cases

Luminent Mortgage Capital, Inc. Securities Fraud Class Action

Gardy & Notis, LLP has filed a class action lawsuit charging Luminent Mortgage Capital, Inc. (NYSE: LUM) and its top executive officers with violating the federal securities laws by issuing a series of materially false and misleading press releases and filings with the SEC concerning Luminent's financial results and business prospects.

Luminent's representations concerning the liquidity and the security of its dividend are alleged to be patently untrue, and served to falsely inflate the prices investors paid for Luminent securities. On August 6, 2007, following the announcement that Luminent had suspended payment of its second quarter dividend, Luminent stock lost over 92% of its value, inflicting enormous harm on investors.

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