kansascity.com (Free subscription) | 06/25/2008
A shareholder of subprime lender NovaStar Financial Inc. sued the company's six directors Tuesday, alleging they were responsible for issuing false and misleading statements about NovaStar's financial condition.
The Kansas City Business Journal (Free subscription) | 07/09/2008
A new class-action lawsuit filed against NovaStar Financial Inc. alleges that the company and its officers mishandled their responsibilities for overseeing the employee retirement plan when they invested heavily in NovaStar's stock.
Callahan's Cleveland Diary (Free subscription) | 07/02/2008
A great piece by Charu Gupta in the new (and close to last) Free Times. A former account executive for the nearly bankrupt Novastar Financial Inc. and a former mortgage broker at the now-defunct Equity Consultants, an independent mortgage brokerage firm once in Richfield, spoke to the Free Times on the condition of anonymity. Both continue [...]
The Kansas City Business Journal (Free subscription) | 06/25/2008
A NovaStar Financial Inc. shareholder has sued several of the company's top officers, claiming the subprime mortgage lender violated basic accounting principals and made the company's loan portfolio look creditworthy when it wasn't.
The Kansas City Business Journal (Free subscription) | 06/06/2008
Finally, some good news for NovaStar Financial Inc.: A federal judge in the Western District of Missouri has dismissed a securities class-action lawsuit against the company.
kansascity.com (Free subscription) | 06/06/2008
NovaStar Financial Inc. on Thursday drew closer to bankruptcy after a lender accelerated its loan and declared $51 million in obligations immediately due and payable.
The Kansas City Business Journal (Free subscription) | 06/05/2008
NovaStar Financial Inc., which defaulted in March and April on a credit agreement with JPMorgan Chase bank, received notification that the creditor will seek legal remedies available to it, which NovaStar said could cause it to file bankruptcy.
