December 13, 2012 - 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.
November 26, 2012 - The court granted in part the motion for final approval and motion for attorney fees.

July 24, 2012 - The court granted in part and denied in part the proposed settlement.

April 23, 2012 - The court preliminarily approved the settlement.

April 16, 2012 - Parties filed a stipulation of settlement.

March 2, 2012 - The lead plaintiffs filed a notice of voluntary dismissal of Thornburg Mortgage Inc.

June 28, 2011 - The court granted the dismissal of certain defendants.

June 14, 2011 - The lead plaintiffs filed an amended consolidated complaint.

March 31, 2011 - The court granted in part and denied in part the individual lead plaintiff's motion for leave and reconsideration.

July 9, 2010 - A lead plaintiff filed a motion for leave to file an amended complaint and for reconsideration of the January 27, 2010 order on motion to dismiss.

January 27, 2010 - The court granted in part and denied in part the defendants' motion to dismiss.

April 1, 2009 - Thornburg Mortgage Inc filed for Chapter 11 bankruptcy.

September 22, 2008 - The defendants filed a motion to dismiss.

May 27, 2008 - The lead plaintiffs filed a consolidated complaint on behalf of investors who purchased Thornburg Mortgage Inc (NYSE: TMA) common shares between April 19. 2007 to March 19, 2008. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between April 19. 2007 to March 19, 2008.

February 8, 2008 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

October 22, 2007 - Lead plaintiff motions were filed.

September 24, 2007 - An additional investor filed a complaint in the U.S. District Court for the Southern District of New York on behalf of investors who purchased Thornburg Mortgage Inc (NYSE: TMA) common shares between October 6, 2005 and August 17, 2007.

September 13, 2007 - Another investor filed a complaint.

September 7, 2007 - Another investor filed a complaint in the U.S. District Court for the Southern District of New York on behalf of investors who purchased Thornburg Mortgage Inc (NYSE: TMA) common shares between April 19, 2007 and August 14, 2007.

August 21, 2007 - An investor in shares of Thornburg Mortgage Inc (NYSE: TMA) filed a lawsuit in the U.S. District Court for the District of New Mexico against Thornburg Mortgage Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between October 6, 2005 and August 17, 2007.

The complaint charges Thornburg Mortgage Inc and certain of its officers and directors, with violations under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. ss.78j(b) and the rules and regulations promulgated thereunder by the SEC, including Rule 10b-5, 17 C.F.R. ss.240.10b-5.

Specifically, the complaint alleges that between October 6, 2005 and August 17, 2007, defendants issued numerous, positive financial statements, annual and quarterly financial reports filed with the SEC, press releases, and other public statements that described Thornburg Mortgage Inc’s financial performance. The complaint further alleges that these public statements were materially false and misleading because they misrepresented and failed to disclose the following adverse facts, among others: (a) that Thornburg Mortgage Inc was facing increasing margin calls; (b) that its available leverage had significantly diminished; (c ) that its financial situation had deteriorated to the point where it must sell certain assets; and, (d) that as a result of the foregoing Thornburg Mortgage Inc reported overstated financial results.

As a result of defendants’ false statements, Thornburg Mortgage Inc’s stock (NYSE: TMA) traded at artificially inflated price between October 6, 2005 and August 17, 2007, reaching a high of $30.64 per share on June 17, 2005.

The complaint further alleges that on August 20, 2007, before the market opened, Thornburg Mortgage Inc published a press release over the Business Wire detailing that it was forced to sell $20.5 billion of its top-rated mortgage backed securities to boost its liquidity. This announcement was made in the wake of the August 14 announcement that Thornburg Mortgage Inc had to stop funding loans due to the credit crunch. Thornburg Mortgage Inc had been unable to repay nearly $8.4 billion of commercial paper outstanding as of June 30, 2007 because buyers of the paper demanded terms and covenants that Thornburg Mortgage Inc was either unwilling or unable to satisfy.

As a result of these disclosures, Thornburg Mortgage Inc’s price per share fell $1.73 by midday trading, a 9% decline over its previous close on extremely heavy volume.