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December 16, 2008 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/cbass/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of purchasers of C-BASS 2007-CB4 Trust Certificates (collectively, the “Certificates”) pursuant and/or traceable to the false and misleading Registration Statement and Prospectus Supplement issued during 2007 (collectively, the “Registration Statement”). The Class includes purchasers of the following classes of Certificates:

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. 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 or join this class action online at http://www.csgrr.com/cases/cbass/. Any member of the putative 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 Credit-Based Asset Servicing and Securitization LLC (“C-BASS”), Merrill Lynch Mortgage Investors, Inc., certain of its officers and directors, and the issuers and underwriters of the Certificates with violations of the Securities Act of 1933. C-BASS’s principal business is the purchasing of residential mortgage loans, primarily sub-prime in nature, from multiple parties, including banks and other financial institutions, and mortgage-related securities, including non-investment grade subordinated securities, for investment and securitization

The complaint alleges that, on March 3, 2007, C-BASS and the defendant issuers caused the Registration Statement to be filed with the SEC in connection with and for the purpose of issuing hundreds of millions of dollars of Certificates. The Certificates were issued pursuant to a Prospectus Supplement that was incorporated into the Registration Statement. The Certificates were supported by pools of mortgage loans. The Registration Statement represented that the mortgage pools would primarily consist of loans generally secured by liens on residential properties, including conventional and adjustable-rate mortgage loans.

The complaint alleges that the Registration Statement included false statements and/or omissions about: (i) the underwriting standards purportedly used in connection with the origination of the underlying mortgage loans; (ii) the maximum loan-to-value ratios used to qualify borrowers; (iii) the appraisals of properties underlying the mortgage loans; and (iv) the debt-to-income ratios permitted on the loans.

According to the complaint, by December 2007, the truth about the performance of the mortgage loans that secured the Certificates began to be revealed to the public, increasing the risk of the Certificates receiving less absolute cash flow in the future and the likelihood that investors would not receive it on a timely basis. The credit rating agencies also began to put negative watch labels on the Certificate tranches or classes, ultimately downgrading many. As an additional result, the Certificates are no longer marketable at prices anywhere near the price paid by plaintiff and the Class and the holders of the Certificates are exposed to much more risk with respect to both the timing and absolute cash flow to be received than the Registration Statement/Prospectus Supplement represented.

Plaintiff seeks to recover damages on behalf of all purchasers of C-BASS 2007-CB4 Trust Certificates (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.
Contact:

Coughlin Stoia Geller Rudman & Robbins LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
djr@csgrr.com