September 21, 2010 - The court ordered the authorization of the distribution of the net settlement fund.
December 14, 2009 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.

September 4, 2009 - The court preliminarily approved the settlement.

July 15, 2009 - Parties filed a stipulation of settlement.

December 22, 2008 - The court granted in part and denied in part the defendants' motions to dismiss.

March 10, 2008 - The defendants filed motions to dismiss.

January 4, 2008 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased RAIT Financial Trust (NYSE: RAS) common shares between June 8, 2006 and August 3, 2007. The lead plaintiff alleges that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between June 8, 2006 and August 3, 2007.

October 25, 2007 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

October 1, 2007 - Lead plaintiff motions were filed.

August 21, 2007 - An additional investor filed a complaint in the U.S. District Court for the Eastern District of Pennsylvania on behalf of investors who purchased RAIT Financial Trust (NYSE: RAS) common shares between June 8, 2006 and July 31, 2007.

August 16, 2007 - Another investor filed a complaint in the U.S. District Court for the Eastern District of Pennsylvania on behalf of investors who purchased RAIT Financial Trust (NYSE: RAS) common shares between May 13, 2006 and July 31, 2007.

August 1, 2007 - An investor in shares of RAIT Financial Trust (NYSE: RAS) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania against RAIT Fiancial Trust over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 10, 2007 and July 31 , 2007.

RAIT Financial Trust is a real estate investment trust, providing comprehensive debt financing options to the real estate industry including bridge and mezzanine loans, preferred equity investments, trust preferred securities (”TruPS”) and subordinated debt for private and corporate owners of commercial real estate, REITs and real estate operating companies and their intermediaries throughout the United States and Europe.

According to the complaint, between January 10, 2007 and July 31 , 2007, defendants issued materially false and misleading statements that misrepresented and failed to disclose (i) RAIT Financial Trust’s financial relationship with American Home Mortgage (”AHM”); that (ii) the payment to RAIT Financial Trust by American Home Mortgage of the TruPS was in jeopardy, which could result in at least a net exposure of $95 million, or $1.56 per share of book value; and that (iii) RAIT Financial Trust had failed to adequately reserve for the risk of nonpayment of American Home Mortgage and the loss in value of the associated securities in an amount of approximately $95 million.

On July 31, 2007, RAIT Financial Trust surprised the market by announcing that it did not receive payment from AHM of trust preferred securities due on July 30, 2007 from AHM, resulting in at least a net equity exposure of $95 million. The price of RAIT Financial Trust (NYSE: RAS) common stock declined in reaction to this news from a close on July 30, 2007 of $16.06 to a close on July 31, 2007 of $10.36.