BENSALEM, Pa., March 19, 2007 (PRIME NEWSWIRE) -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock of Accredited Home Lenders Holding Co. ("Accredited Home Lenders" or the "Company") (Nasdaq:LEND) between November 1, 2005 and March 12, 2007 (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Southern District of California.
The Complaint alleges that defendants violated federal securities laws by issuing a series of material misrepresentations to the market during the Class Period concerning the Company's operations, financial performance and prospects, thereby artificially inflating the price of Accredited Home Lenders securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Accredited Home Lenders common stock between November 1, 2005 and March 12, 2007, you have certain rights, and have until May 15, 2007, in which to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmithlaw@hotmail.com or visit our website at www.howardsmithlaw.com.