Did you build a new home in a neighborhood developed by one of the following builders?
There are currently class action lawsuits filed against these eight national homebuilders. The lawsuit alleges homebuilders that sold new homes in 2005 and 2006 to purchasers who put 20% or more down payment, failed to inform these purchasers of the large number of subprime loans used to sell homes at inflated prices in the same development.
The lawsuit further alleges that these homebuilders not only knew about the subprime loans, the homebuilder actually funded many of the subprime loans through mortgage companies that the they set up to fund the loans used to purchase the homes they were selling.
The lawsuit also alleges that as a result of these subprime loans, that homes in these developments were sold at inflated prices, and that the high rate of foreclosures and short-sales from defaulting subprime buyers has resulted in devastating reduction in home values.
The case is presently in litigation. United States District Court Judge Virginia A. Phillips dismissed the case on issue of proving damages. The United States Ninth District Court of Appeals has reversed that decision and reinstated the case.
We would like to hear from you if you believe you are one of our prospective class members. If you are interested in having your situation included in the lawsuit, please fill out the short questionnaire, and someone from the Simmons Firm will get back to you shortly. If you would prefer to leave a telephone message, please call 1-866-468-8631.
Read the Court of Appeals Order reinstating the case here.
Read our press release here.
About Simmons Browder Gianaris Angelides & Barnerd LLC
Simmons Browder Gianaris Angelides & Barnerd LLC (the “Simmons Firm”) is a leading national law firm representing individuals and businesses in cases of corporate wrongdoing. Founded in 1999 by John Simmons, the firm quickly earned a reputation in cases of toxic exposure, obtaining landmark verdicts for its clients, including a $250 million verdict against U.S. Steel on behalf of a former steelworker.
Today, the firm has recovered over $4 billion in verdicts and settlements and is entrenched in multiple areas of complex litigation: toxic exposure, consumer rights, pharmaceutical injury cases, business and commercial disputes, and intellectual property litigation. Our team includes the nation’s leading litigators with over 50 attorneys and offices in Chicago, St. Louis, Alton and Los Angeles.