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TOUSA Inc TOUSQ Securities Stock Fraud

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Company: TOUSA Inc
Ticker Symbol: TOUSQ
Class Period: Aug-1-05 to Mar-19-07
Date Filed: Jul-25-08
Lead Plaintiff Deadline: Sep-23-08
Court: United States District Court for the Southern District of Florida
Allegations:
Judge Kenneth Marra of the United States District Court for the Southern District of Florida has ordered the filing of a consolidated class action complaint no later than August 29, 2008, for Durgin v. Technical Olympics USA, Inc., et al., Case No. 06-61844-CIV-Marra (S.D. Fla.), a securities class action. The plaintiff is the Bricklayers & Trowel Trades International Pension Fund, which the Court appointed as lead plaintiff after the withdrawal of the originally named lead plaintiff.

TOUSA, Inc. (Pink Sheets:TOUSQ) is a homebuilder and financial services company operating throughout Florida, Texas, the Mid-Atlantic, and the West. The lawsuit alleges that the company, certain of its officers and directors, and its underwriters issued materially false and misleading statements during the period August 1, 2005 through and including March 19, 2007 concerning the company's joint venture with Transeastern Properties, Inc., and the subsequent bankruptcy and losses resulting from the failure of that venture. On November 6, 2006, TOUSA disclosed, in a filing with the Securities and Exchange Commission, that it faced exposure for the full repayment of the loans of the joint venture with Transeastern. On March 19, 2007, TOUSA disclosed massive write-offs stemming from the failed joint venture.



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.

TOUSA Inc TOUSQ Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible TOUSA Inc securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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