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Violation Tracker Individual Record

Company: RAIT Financial Trust
Penalty: $32,000,000
Year: 2009
Date: December 12, 2009
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: toxic securities abuses
Mega-Scandal: Toxic Securities
Violation Description: RAIT Financial agreed to pay $32 million to settle litigation alleging it misled institutional investors about its exposure to risky subprime mortgage-backed securities.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of Pennsylvania
Civil or Criminal Case: civil
Case ID: 2:07cv3148
Case Name: A1 Credit Company v. RAIT Financial Trust et al
Private Lawsuit Resolution Type: settlement
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.