Subprime lender Accredited Home Lenders said Monday it is in discussions for a possible financing deal as it fights to keep its stock listed on the Nasdaq.
Accredited also said a lawsuit seeking class-action status has been filed against the company and its officers. The suit alleges Accredited issued false and misleading statements. The company said it believes the lawsuit has no merit.
Accredited said it is currently in discussions regarding a possible financing arrangement with a third party that would provide additional liquidity. The company has retained a financial adviser for the discussions.