Shareholder Class Action

     Novastar Financial defrauded the market by hiding its exposure to enormous losses in sub-prime mortgages, which knocked 42% off the share price in a single day when it was exposed, shareholders claim in Kansas City, Mo., Federal Court.

     First American Corp. inflated its share price through false and misleading statements from April 26, 2006 through Nov. 6, 2007, shareholders claim in Manhattan Federal Court.

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