Lawsuit Overview
March 4, 2009 - The court denied the defendants' motion to dismiss.
April 22, 2008 - The defendants filed a motion to dismiss.
February 19, 2008 - The lead plaintiff filed an amended complaint.
January 18, 2008 - The lead plaintiff and lead counsel were appointed.
November 19, 2007 - Lead plaintiff motions were filed.
September 18, 2007 - An investor in shares of Care Investment Trust Inc (NYSE: CRE) filed a lawsuit in the U.S. District Court for the Southern District of New York against Care Investment Trust Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made pursuant and/or traceable to Care Investment Trust Inc (NYSE: CRE) initial public offering on June 22, 2007.
the complaint charges Care Investment and certain of its officers and directors with violations of the Securities Act. Care Investment is a real estate investment and finance company formed principally to invest in healthcare-related commercial mortgage debt and real estate.
Specifically, the complaint alleges that on or about June 22, 2007, the Prospectus with respect to the IPO, which forms part of the Registration Statement, became effective and more than 15 million shares of Care Investment’s common stock were sold to the public at $15.00 per share, thereby raising more than $225 million. The complaint alleges that the Prospectus contained inaccurate statements of material fact because they failed to disclose that certain of the assets in the portfolio of healthcare-related mortgage assets, which was created upon the consummation of the IPO were materially impaired and therefore overvalued and that the Company was experiencing increasing difficulty in securing its warehouse financing lines.