Friedman, Billings, Ramsey Group, Inc. NYSE: FBR

A class action lawsuit was filed in the United States District Court for the Southern District of New York, against Friedman, Billings, Ramsey Group, Inc. ("FBR" or the "Company") (NYSE: FBR) on behalf of purchasers of the publicly traded securities Friedman, Billings, Ramsey Group, Inc. between January 29, 2003 and April 25, 2005 (the "Class Period").

The Complaint alleges that FBR violated federal securities laws by issuing false or misleading public statements. Specifically, the Complaint alleges that FBR did not properly disclose the adverse effect of an SEC and NASD investigation into FBR's 2001 role as a placement agent for an issuer in a PIPE (private investment in public equity) transaction. On November 9, 2004, FBR filed its third quarter 2004 Form 10-Q in which it disclosed this SEC and NASD investigation. On this news, FBR's stock dropped to $16.93 per share. On April 4, 2005, Emanual J. Friedman, DBR's CEO, resigned. Then, on April 25, 2005, FBR announced disappointing preliminary results for the first quarter 2005, including a charge for its liability in the PIPE transaction. On this news, FBR's stock dropped to $12.52 on volume of 7.5 million shares.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.