This is a securities violation class action lawsuit filed against Opteum, Inc. and certain officers and directors.
Opteum operates as a real estate investment trust (REIT). It invests primarily in residential mortgage-related securities (MBS) issued by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association.
The class action lawsuit charges that Opteum, Inc., published a series of false and misleading statements in two separate stock offerings which did not fully and adequately disclose to investors the effect a rise in interest rates would affect Opteum's business and financial results.
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