NEW YORK– LAWFUEL – The Law Newswire – Wolf Haldenstein Adler Freem…

NEW YORK– LAWFUEL – The Law Newswire – Wolf Haldenstein Adler Freeman & Herz LLP today filed a class action lawsuit in the United States District Court, District of New Mexico, on behalf of all persons who purchased the common stock of Thornburg Mortgage, Inc. (“TMI” or the “Company”) (NYSE:TMA) between October 6, 2005 and August 17, 2007, inclusive (the “Class Period”), against the Company and certain of its officers and directors, alleging violations under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. §78j(b) and the rules and regulations promulgated thereunder by the SEC, including Rule 10b-5, 17 C.F.R. §240.10b-5 (the “Class”).

The Complaint alleges that throughout the Class Period, defendants issued numerous, positive financial statements, annual and quarterly financial reports filed with the SEC, press releases, and other public statements that described the Company’s financial performance. The Complaint further alleges that these public statements were materially false and misleading because they misrepresented and failed to disclose the following adverse facts, among others: (a) that the Company was facing increasing margin calls; (b) that its available leverage had significantly diminished; (c ) that its financial situation had deteriorated to the point where it must sell certain assets; and, (d) that as a result of the foregoing the Company reported overstated financial results.

As a result of defendants’ false statements, TMI’s stock traded at artificially inflated price during the Class Period, reaching a high of $30.64 per share on June 17, 2005.

On August 20, 2007, before the market opened, the Company published a press release over the Business Wire detailing that it was forced to sell $20.5 billion of its top-rated mortgage backed securities to boost its liquidity. This announcement was made in the wake of the August 14 announcement that the Company had to stop funding loans due to the credit crunch. The Company had been unable to repay nearly $8.4 billion of commercial paper outstanding as of June 30, 2007 because buyers of the paper demanded terms and covenants that the Company was either unwilling or unable to satisfy.

As a result of these disclosures, the Company’s price per share fell $1.73 by midday trading, a 9% decline over its previous close on extremely heavy volume.

As a result of the dissemination of the false and misleading statements set forth in the complaint, the market price of TMI common stock was artificially inflated during the Class Period. In ignorance of the false and misleading nature of the statements described above, and the deceptive and manipulative devices and contrivances employed by said defendants, plaintiffs and the other members of the Class relied, to their detriment, on the integrity of the market price of TMI common stock. Had plaintiffs and the other members of the Class known the truth, they would not have purchased said common stock, or would not have purchased them at the inflated prices that were paid.

The case name is styled Slater v. Thornburg, et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at www.whafh.com.

If you purchased TMI common stock during the Class Period, you may request that the Court appoint you as lead plaintiff by October 22, 2007.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 70 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., Rachel S. Poplock, Esq. or Derek Behnke), via e-mail at [email protected] or visit our website at www.whafh.com. All e-mail correspondence should make reference to TMI.

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