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Tuesday, Jul 23, 2024
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Accredited Sues Lone Star

Accredited Home Lenders Holding Co. said Aug. 13 that it filed suit against Lone Star Fund and two affiliates, seeking to force the Texas hedge fund to complete its $400 million acquisition of Accredited.

Subprime lender Accredited is based in San Diego. Its shares, traded on Nasdaq under the symbol LEND, stood at $6.19 during midday trading Aug. 13, down 30 percent from the closing price on the previous trading day.

The parties had set an Aug. 14 deadline for Accredited shareholders to submit their shares to Lone Star.

, Brad Graves

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