NEW YORK, Jan. 29, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm today announced its ongoing investigation of civil securities claims against Municipal Mortgage & Equity, LLC ("MMA" or the "Company") (NYSE:MMA), concerning allegations that MMA issued materially false and misleading statements about its financial condition and financial performance.
On January 28, 2008, the Company announced that it was slashing its dividend and would delay the filing of restated financial statements. As a result, the New York Stock Exchange now plans to delist the Company's shares from trading beginning February 6, 2008. As a result of these adverse disclosures, the Company's stock price declined nearly 40%.
The Rosen Law Firm's ongoing investigation concerns allegations of whether MMA inflated the value of its loans and other assets on its balance sheets and failed to maintain adequate internal accounting controls in violation of Generally Accepted Accounting Principles.
As a result of its investigation of MMA, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who purchased MMA securities during the period from January 30, 2003 through January 28, 2008.
You may access the website at http://www.rosenlegal.com to participate in the proposed class action.
If you purchased MMA stock and would like further information concerning your legal rights, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.