On January 18, 2008, Alaska Hotel & Restaurant Employees Pension Trust Fund and Norfolk County Retirement System were appointed as Lead Plaintiffs and the District Court approved their selection of Labaton Sucharow LLP to serve as Co-Lead Counsel in In re Briarwood Investments, Inc. v. Care Investment Trust, Inc., et al., No. 07-CV-08159-LLS (S.D.N.Y.), a class action asserting claims under Sections 11, 12(a)(2) and 15 of the Securities Act.

The action alleges that Care Investment Trust, Inc. (the "Company") and certain executives and directors (collectively "Defendants") made numerous material misstatements in the Offering Documents regarding the Company’s investment strategy, access to capital and the quality of the assets the Company purchased from its Manager, CIT Healthcare. Lead Plaintiffs represent a putative class of all persons who purchased the Company's stock pursuant to/or traceable to the Initial Public Offering.

On April 22, 2008, the Defendants moved to dismiss the Complaint. The motion was thereafter fully briefed. On March 4, 2009, the Court issued an order denying Defendants' motion to dismiss in total and sustaining Lead Plaintiffs' Amended Complaint under Sections 11, 12(a)(2) and 15 of the Securities Act.

The action is currently pending in the Southern District of New York before the Honorable Louis L. Stanton.