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Home / MO Lawyers Blog / NovaStar settles class action for $7.25 million

NovaStar settles class action for $7.25 million

NovaStar Financial Inc. agreed to pay $7.25 million to settle a class action lawsuit earlier this week. The Kansas City-based company, which at one point was a leader in subprime lending, faced accusations that it attempted to drive up its stock price by releasing misleading reports and not disclosing regulatory problems –– violations of federal securities ...