Izard Nobel LLP Announces Class Action Lawsuit Against Triad Guaranty, Inc.

• Press Release
• Source: Izard Nobel LLP
• On 7:28 pm EST, Thursday January 29, 2009

HARTFORD, CT--(MARKET WIRE)--Jan 29, 2009 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Middle District of North Carolina on behalf of those who purchased the common stock of Triad Guaranty, Inc. ("Triad" or the "Company") (NasdaqGS:TGIC - News) between October 26, 2006 and November 10, 2008, inclusive (the "Class Period").

Related Quotes

Symbol	Price	Change
TGIC	0.88	+0.04

{"s" : "tgic","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The Complaint charges that Triad and certain of its officers and directors violated federal securities laws by issuing materially false statements concerning the Company's business and financial results. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) Triad was not adequately accounting for loss reserves in violation of GAAP, causing its financial results to be materially misstated; (ii) Triad failed to engage in proper underwriting practices for its insurance written in 2006 and 2007, including the insurance related to its Alt-A and pay-option ARM products; and (iii) Triad had far greater exposure to anticipated losses and defaults related to insurance written in 2006 and 2007 than it had disclosed.

On November 10, 2008, Triad issued its financial results for the third quarter of 2008, reporting a net loss for the quarter ended September 30, 2008 of $160.1 million. On this news, Triad's stock price dropped to $0.70 per share on November 11, 2008. During the Class Period, Triad traded as high as $58.45 per share in January 2007.

If you are a member of the class, you may, no later than March 30, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/triad/, or contact Izard Nobel LLP toll-free 800-797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases, please visit: www.izardnobel.com.

     CONTACT:
     Nancy A. Kulesa or Wayne Boulton
     800-797-5499
     http://www.izardnobel.com
     Email Contact