|Company:||Triad Guaranty, Inc.|
|Class Period:||Oct-26-06 to Nov-10-08|
|Lead Plaintiff Deadline:||Mar-31-09|
|Court:||Middle District of North Carolina|
The Complaint charges that Triad and certain of its officers and directors violated federal securities laws by issuing materially false statements concerning the Company's business and financial results. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) Triad was not adequately accounting for loss reserves in violation of GAAP, causing its financial results to be materially misstated; (ii) Triad failed to engage in proper underwriting practices for its insurance written in 2006 and 2007, including the insurance related to its Alt-A and pay-option ARM products; and (iii) Triad had far greater exposure to anticipated losses and defaults related to insurance written in 2006 and 2007 than it had disclosed.
On November 10, 2008, Triad issued its financial results for the third quarter of 2008, reporting a net loss for the quarter ended September 30, 2008 of $160.1 million. On this news, Triad's stock price dropped to $0.70 per share on November 11, 2008. During the Class Period, Triad traded as high as $58.45 per share in January 2007.
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.