Advanta Corp. (2010) (RediReserve Notes)

Class Period: Jun 24, 2007 to Nov 8, 2009

Lead Plaintiff Deadline: Oct 8, 2010 + Deadline passed

Summary of Case:

The Complaint alleges that the RediReserve variable rate certificates and investment notes issued by Advanta Corporation ("Advanta"), traceable to a registration statement filed with the SEC on August 18, 2006 (the "Registration Statement") as amended on February 28, 2007 (the "2007 Amendment"), February 28, 2008 (the "2008 Amendment"), February 9, 2009 (the "February 2009 Amendment"), and March 13,2009 (the "March 2009 Amendment") contained materially misleading statements and omissions that violated the Securities Act of 1933.

As a result of the misleading and inaccurate statements and/or omissions in the Registration Statement, as amended by the 2007 Amendment, 2008 Amendment, February 2009 Amendment, and March 2009 Amendment, the value of RediReserve notes was artificially inflated.

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