Contact Information: William B. Federman FEDERMAN & SHERWOOD 10205 North Pennsylvania Avenue Oklahoma City, OK 73120 Email to: wfederman@aol.com www.federmanlaw.com
Federman & Sherwood Announces That a Securities Class Action Lawsuit Has Been Filed Against Downey Financial Corp. (NYSE: DSL)
| Source: Federman & Sherwood
OKLAHOMA CITY, OK--(Marketwire - May 19, 2008) - On May 16, 2008, a class action lawsuit
was filed in the United States District Court for the Central District of
California against Downey Financial Corp. (NYSE : DSL ). The complaint
alleges violations of federal securities laws, Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and Rule 10b-5, including allegations
of issuing a series of material misrepresentations to the market which had
the effect of artificially inflating the market price. The class period is
from October 16, 2006 through March 14, 2008.
Plaintiff seeks to recover damages on behalf of the Class. If you are a
member of the Class as described above, you may move the Court no later
than Tuesday, July 15, 2008, to serve as a lead plaintiff for the Class.
However, in order to do so, you must meet certain legal requirements
pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, participate in this or any other
lawsuit, or have any questions or concerns regarding this notice, or
preservation of your rights, please contact: