This should be interesting, chief operating officer and director Larry A. Goldstone made several appearances on CNBC last week and the week before to calm the nerves of investors after Thornburg's stock had fallen to record lows. Could this be the end of Thornburg Mortgage?
Investor Sues Thornburg Mortgage: Financial News - Yahoo! Finance:
ALBUQUERQUE, N.M. (AP) -- The manager of KT Investments has sued Santa Fe-based Thornburg Mortgage Inc. on behalf of himself and everyone who bought Thornburg common stock since Oct. 6, 2005, alleging the price was artificially inflated.
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Kenneth Z. Slater seeks unspecified damages from alleged violations of federal securities laws by officers of Thornburg Mortgage, which specializes in jumbo loans, or those over $417,000, with adjustable rate terms.
The 38-page lawsuit, filed Tuesday in U.S. District Court here by New York and New Mexico law firms, alleges Thornburg issued numerous positive financial statements and filings with the Securities and Exchange Commission that were false and misleading because the company failed to disclose that it faced increasing margin calls.
Technorati Tags: economy, mortgage , news, NM, Subprime-Mortgage, Thornburg
Bought a lot of His own company, about $25,000,000 worth, why would he do that? he thought they were a great buy at $22.00.per share.
Posted by: ken morgan | Tuesday, August 28, 2007 at 09:48 AM
Bought a lot of His own company, about $25,000,000 worth, why would he do that? he thought they were a great buy at $22.00.per share.
Posted by: ken morgan | Tuesday, August 28, 2007 at 09:49 AM
I guess Larry had 25 million motivations for fluffing the company when the stock hit $7.49
Posted by: Gideon | Wednesday, August 29, 2007 at 11:40 PM