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1
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DOCKET
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EXTRACTED KEY WORDS
DOCKET DEFENDANT DISTRICT COURT GEORGE MICHAEL KILBOURNE MEDIAT MIDDLE DISTRICT NORTH CAROLINA DURHAM CIVIL DOCKET DKT SECURITIES EXCHANGE ACT OAKWOOD HOMES GROUP NICHOLAS JURY DEMAND EDIT |
Docket as of December 9, 1998 [retrieved 1/10/99]
Proceedings include all events. 18BA
1:98cv1013 GROUP ONE LIMITED v. OAKWOOD HOMES GROUP, et al MEDIAT
SO30
18BA
MEDIAT
SO30
U.S. District Court
Middle District of North Carolina (Durham)
CIVIL DOCKET FOR CASE #: 98-CV-1013
GROUP ONE LIMITED v. OAKWOOD HOMES GROUP, et al Filed:
11/18/98
Assigned to: UNASSIGNED Jury demand: Plaintiff
Demand: $0,000 Nature of Suit: 850
Lead Docket: None Jurisdiction: Federal
Question
Dkt# in other court: None
Cause: 15:78m(a) Securities Exchange Act
GROUP ONE LIMITED, on behalf MARTHA A. GEER
of itself and all others [COR LD NTC]
similarly situated PATTERSON, HARKAVY & LAWRENCE
plaintiff POB 27927
RALEIGH, NC 27611
919-755-1812
BERNARD M. GROSS
[COR LD NTC]
DEBORAH R. GROSS
[COR LD NTC]
OFFICE OF BERNARD M. GROSS
1500 WALNUT ST., 6TH FL.
PHILADELPHIA, PA 19102
215-561-3600
MARC HENZEL
[COR LD NTC]
LAW OFFICES OF MARC S. HENZEL
210 W. WASHINGTON SQ.
PHILADELPHIA, PA 19106-3514
215-625-9999
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2
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COMPLAINT
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EXTRACTED KEY WORDS
LOANS CREDIT DEFENDANTS CLASS PERIOD SALES DELINQUENCY RATE STANDARDS CREDIT LOSSES STOCK SECURITIES CUSTOMERS INVESTORS CREDIT SCORING SYSTEM UNDERWRITING STANDARDS PLAINTIFFS TIGHTENED UNDERWRITING STANDARDS COMMON STOCK SECURITIZATIONS PREPAYMENT CLASS ACTION ASSURED INVESTORS EXCHANGE ACT MANUFACTURED HOUSING APPROXIMATES NET INCOME REMIC SECURITIZATIONS SECURITIES ANALYSTS REPRESENTATIONS FINANCIAL SERVICES |
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF NORTH CAROLINA
GROUP ONE LIMITED, KEN RUTT AND |
RONALD E. DAVIS, et al., On Behalf of Themselves |
and All Others Similarly Situated, |
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Plaintiffs, |
vs. |
| Master File No. 98-1013
OAKWOOD HOMES CORP., NICHOLAS ST. |
GEORGE and C. MICHAEL KILBOURNE, |
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Defendants. |
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
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IN RE OAKWOOD HOMES CORPORATION |
SECURITIES LITIGATION | CLASS ACTION
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
This Document Relates To: |
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ALL ACTIONS. |
_____________________________________________ | Plaintiffs Demand A
| Trial By Jury
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PLAINTIFFS' CONSOLIDATED AMENDED CLASS ACTION COMPLAINT
FOR VIOLATION OF THE FEDERAL SECURITIES LAWS
NATURE OF THE ACTION
1. This is a securities class action on behalf of all purchasers of the common stock of
Oakwood Homes Corporation ("Oakwood" or the "Company"), other than defendants and
certain related parties, between April 22, 1997 and July 21, 1998, inclusive (the "Class
Period"), alleging violations of the Securities Exchange Act of 1934 (the "Exchange
Act"). Oakwood produces, sells and finances manufactured housing, serving retail and
wholesale customers.
2. During the Class Period, defendants repeatedly assured investors that the delinquency
rate on the loans Oakwood made to home buyers was declining; that the Company had
implemented a new credit scoring system to more efficiently evaluate credit customers
and reduce credit losses; and that the Company had "tightened underwriting standards"
and focused "additional emphasis" on sales and loans to "higher credit quality
customers." Further, throughout the Class Period, defendants consistently reported
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