BOCA RATON, Fla., Jan. 18, 2008 (PRIME NEWSWIRE) -- Investors are reminded that the Lead Plaintiff deadline in the shareholder suit on behalf of investors in HomeBanc Corp. ("HomeBanc" or the Company") (OTCBB:HMBN) and the 10% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") (OTCBB:HMBNP) in the United States District Court for Southern District of Florida is January 29, 2008.
The complaint seeks damages for violations of federal securities laws on behalf of all investors who acquired common and/or preferred securities between September 26, 2005 through August 3, 2007, inclusive (the "Class Period"), including those who purchased the 10% Series A Cumulative Redeemable Preferred Stock pursuant or traceable to the Company's February 2, 2006 Initial Public Offering (the "IPO" or the "Offering") underwritten by JP Morgan Securities, Inc. and AG Edwards & Sons, Inc.
On August 9, 2007, HomeBanc filed a voluntary petition for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. This shocking event, within days of the end of the class period, stands in sharp contrast to defendants' public statements in the Registration Statement and Prospectus, and throughout the Class Period, regarding the state of HomeBanc's business and operations.
You may obtain a copy of the complaint from the Court, by contacting Saxena White P.A. through its website www.saxenawhite.com, by emailing jwhite@saxenawhite.com or gstone@saxenawhite.com or by calling (561) 394-3399.
If you acquired HomeBanc common and/or preferred securities from September 26, 2005 through August 3, 2007, you may wish to contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests:
Joseph White, Esq. jwhite@saxenawhite.com Greg Stone gstone@saxenawhite.com Saxena White P.A. 2424 North Federal Highway Suite 257 Boca Raton, FL 33431 Tel: (561) 394-3399 Fax: (561) 394-3382
If you wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the court no later than January 29, 2008. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A. has offices in Boca Raton, San Francisco, and Boston, and specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered millions of dollars on behalf of injured investors.