Shareholder Class Action

     Investors were unable to redeem more than $37 million in matured senior notes, because Capital Investment Funding’s directors loaned the money to other companies they owned, effectively converting it to their personal accounts, a class action claims in Pickens County Court.

     American International Group officers and directors wasted, diverted and misappropriated AIG’s corporate assets through high-risk investments, including asset-backed commercial paper, structured investment vehicles, and collateralized debt obligations secured by subprime mortgages, shareholders claim in Manhattan Federal Court.
     Lehman Brothers, JPMorgan Securities and Citigroup Global Markets issued shares of Federal National Mortgage Association stock without warning investors that the company could be required to raise another $46 billion in order to be considered adequately capitalized, shareholders claim in New York County Supreme Court.
     Novagold Resources and its directors inflated share prices through false and misleading statements, shareholders claim in Manhattan Federal Court.

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