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IndyMac Stock Securities Fraud Class Action Settlement
By Mike Holter
IndyMac Bancorp, Inc. has settled a securities fraud class action lawsuit accusing the company of misleading investors about its financial health before it filed for bankruptcy. Investors who purchased IndyMac stock (NYSE:NDE) between March 1, 2007 and May 12, 2008, inclusive, can file a claim to receive money from the IndyMac securities class action settlement.
The IndyMac securities fraud settlement will resolve a class action lawsuit, entitled John Folsom v. IndyMac Bancorp, Inc., et al., that alleges IndyMac misled investors by issuing press releases and other statements that contained false and misleading information about the financial health of IndyMac. IndyMac filed for Chapter 7 bankruptcy on July 31, 2008. As a result of these alleged false and misleading statements, the value of IndyMac stock was inflated and investors who purchased IndyMac stock at these inflated prices were damaged.
IndyMac denies any wrongdoing but has agreed to a $6.5 million class action lawsuit settlement to resolve the litigation.
If you purchased or otherwise acquired IndyMac stock during the Class Period, you can receive a share of the IndyMac securities settlement based on the Plan of Allocation set forth in the IndyMac Stock Settlement Notice.
The only way to receive money from the IndyMac stock class action lawsuit settlement is to submit a Proof of Claim Form and supporting documents to the Settlement Administrator postmarked no later than January 18, 2013.
A Final Fairness Hearing is set for January 28, 2013.
Claim forms and more information on your rights in the IndyMac Securities Class Action Lawsuit Settlement can be found at www.indymac.hefflerclaims.com.
Were you a victim of stock fraud, securities fraud or investment fraud? You may have a case to file class action lawsuit against the parties responsible. Visit the Securities Fraud, Stock Fraud Investment Class Action Lawsuit Investigation for details.
Updated October 8th, 2012
All securities fraud class action and lawsuit news updates are listed in the Stocks & Securities section of Top Class Actions
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