Luther

I. Facts

Alleging various violations of the Securities Act of 1933, David H. Luther filed a class action in Los Angeles County Superior Court against Countrywide Home Loans Servicing LP, CWALT, Inc., several of Countrywide’s subsidiaries and affiliated individuals, multiple alternative loan trusts, and var- ious underwriters. The action was brought on behalf of all persons and entities who acquired hundreds of billions of dol- lars worth of mortgage pass-through certificates from CWALT, Inc. between January 2005 and June 2007.

Luther alleges that the defendants violated sections 11, 12(a)(2), and 15 of the Securities Act of 1933, 15 U.S.C. §§ 77k, 77l(a)(2) and 77o, by issuing false and misleading registration statements and prospectus supplements for the mortgage pass-through certificates. In particular, Luther alleges that the risk of the investments was much greater than represented by the registration statements and prospectus sup- plements, which omitted and misstated the credit worthiness of the underlying mortgage borrowers. Luther alleges that the value of the certificates has substantially declined since many of the underlying mortgage loans became uncollectible and…