Fitch announced it downgraded ResCap's Issuer Default Rating to BB+ from BBB and placed it on Rating Watch Negative. The ratings of IndyMac Bancorp Inc. and related subsidiaries were also placed on review for possible downgrade, Fitch reported. Luminent Mortgage Capital Inc. is being sued for allegedly misleading investors about its business and financial results, Dreier LLP announced. Alleged false and misleading statements that artificially inflated stock also led Wolf Haldenstein Adler Freeman & Herz LLP to file a class action lawsuit against Thornburg Mortgage Inc. on behalf of common stock purchasers. Beazer Homes USA Inc. is suing U.S. Bank N.A. to prevent the bank from declaring Beazer in default on $1.38 billion in loans and accelerating repayment.
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