A lawsuit has been filed and is seeking class action status after the company filed bankruptcy. Thaxton offered insurance products and high interest loans to people with poor credit histories. Thaxton owes $120 million to 3,800 investors. The lawsuit alleges fraud by maintaining operations while going further into debt.
[CLASS ACTION INFORMATION]
Sep-25-06 Settlement Update:
[CLASS ACTION SETTLEMENT]
[CLASS ACTION SETTLEMENT CLAIM FORMS]
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