MMA Muni Mtg & Equ Llc

Coughlin Stoia Geller Rudman & Robbins LLP (�Coughlin Stoia�) (http://www.csgrr.com/cases/munimae/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Municipal Mortgage & Equity L.L.C. (�MuniMae� or the �Company�) (NYSE:MMA) common stock during the period between May 3, 2004 and January 28, 2008 (the �Class Period�). If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2008. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff�s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/munimae/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges MuniMae and certain of its officers and directors with violations of the Securities Exchange Act of 1934. MuniMae and its subsidiaries arrange debt and equity financing for developers and owners of real estate and clean energy projects. The Company also provides investment management and advisory services for institutional investors. According to the complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (i) that MuniMae was materially overstating its financial performance by failing to properly account for its interests in certain entities; (ii) that MuniMae was: (a) failing to timely write-down the fair value of its �held-for-sale� loans, bonds, derivatives, mortgage servicing rights and guarantee obligations; and (b) materially overstating the fair value of these assets; (iii) that the Company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; (iv) that MuniMae�s Class Period financial statements were materially false and misleading when issued and not prepared in accordance with Generally Accepted Accounting Principles (�GAAP�); and (v) that the Company was performing poorly and would soon be forced to cut its dividend. On January 28, 2008, the Company announced that it was reducing its dividend distribution from $0.5250 to $0.33 per share. The Company also admitted that its previously issued financial results and financial statements materially overstated the Company�s financial performance and that the Company�s financial statements were not prepared in accordance with GAAP. Specifically, the Company stated that it would likely be restating its financial statements for the years ended December 31, 2006, 2005 and 2004. Moreover, the Company would likely lose its eligibility of trading on the New York Stock Exchange (�NYSE�) due to the fact that it would not be filing its Annual Report on Form 10-K for the year ended December 31, 2006 by the deadline imposed by the NYSE. In response to these announcements, the price of MuniMae stock dropped from $17.20 per share to $9.19 per share on extremely heavy trading volume. On January 29, 2008, the Company filed its Form 8-K with the Securities and Exchange Commission. The Form 8-K provided more information on the Company�s announcement regarding the restatement of its financial results. Upon this news, the price of MuniMae�s stock fell to $7.13 per share. Plaintiff seeks to recover damages on behalf of all purchasers of MuniMae common stock during the Class Period (the �Class�). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.