Underland v. Alter

CYNTHIA M. RUFE

CIVIL ACTION

AND NOW, this 9th day of September 2011. in accordance with the foregoing reasons, it is hereby ORDERED that:

1) The Advanta Defendants' Motion to Dismiss is GRANTED IN PART. For the reasons set forth in the accompanying opinion. Plaintiffs have not sufficiently alleged that the following misstatements are actionable: (1) Advanta's predictions about the likelihood of an early amortization event; (2) its assessment of its capital levels as '"strong:" (3) alleged misstatements and omissions about Advanta's commitment to maintaining and strengthening customer relationships, and; (4) descriptions of Advanta's methodology for accessing and monitoring customer creditworthiness: and.
2) KFMG LLP's Motion to Dismiss is GRANTED: and.
3) Plaintiffs are granted leave to amend their Complaint on or before October 9, 2011.

BY THE COURT:

HON. CYNTHIA M. RUFE