MRU Holdings, Inc. Investor Class Action Lawsuit

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 22, 2009 -- SAN DIEGO, CA (Shareholders Foundation) -- An investor in shares of MRU Holdings, Inc. has filed a proposed securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased shares of MRU Holdings, Inc. (OTC:UNCLQ; formerly NASDAQ:UNCL) during the period between July 9, 2007 and September 19, 2008 against MRU Holdings and others over alleged violations of Federal Securities Laws.

If you purchased shares of MRU Holdings, Inc. (OTC: UNCLQ; formerly NASDAQ:UNCL) during the period between July 9, 2007 and September 19, 2008 you have certain options and there are strict and short deadlines running (Deadline: June 15, 2009). You should contact the Shareholders Foundation, Inc. immediately at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the complaint the plaintiff alleges that MRU Holdings, Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by, among other things, failing to disclose certain public statements in connection with Auction Rate Securities (“ARS”). On July 7, 2008, MRU Holdings revealed the unfavorable terms of its second securitization, causing the price of its securities to drop to $2.27 per share – a one day decline of $0.23 per share, or 9.2%. Then, on August 18, 2008, Moody’s Investors Service placed the ARSs issued by MRU Holdings on review for downgrade, driving the price of MRU Holdings shares even further, to $1.05 per share. After the market closed on September 5, 2008, the Company ceased originating student loans, which caused MRU Holdings stock price to fall further, closing on September 6, 2008 at $0.71. Finally, on February 9, 2009, MRU Holdings announced that it had filed a voluntary petition for bankruptcy. MRU Holdings shares have been delisted from the NASDAQ stock exchange, and currently trade at less than $.01 per share.
MRU Holdings, Inc., located in New York, is a specialty consumer finance company that facilitates and provides students with funds for higher education.

If you purchased shares of MRU Holdings, Inc. (OTC: UNCLQ; formerly NASDAQ:UNCL) during the period between July 9, 2007 and September 19, 2008 you have certain options and there are strict and short deadlines running (Deadline: June 15, 2009). You should contact the Shareholders Foundation, Inc. immediately at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
For more information please visit us at www.ShareholdersFoundation.com

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