Read Securities Law news, alerts, and legal commentary from leading lawyers and law firms:
Are Political Intelligence Practice Groups Too Risky?
Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
Cohen: Cyprus Is Not A Template For Future Restructurings
Release of new book on the 'Best Practices Under the FCPA and Bribery Act"
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
STOCK Act Loses Much of Its Teeth, but Members of Congress Aim to Change That
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
Lessons Learned from the BizJet Executives FCPA Enforcement Actions
Konczal: Dodd-Frank Reforms Get Roughed Up in Court
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Sullivan & Cromwell's M&A Hotline is Ringing
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP
Jaffe Sees 'A Lot' of IPOs in 2013 'Pipeline'
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
A Missouri court last week handed a legal defeat to a local escrow firm that sued its financial institution to recover $440,000 stolen in a 2009 cyberheist. The court ruled that the company assumed greater responsibility for...more
On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the Securities Exchange Act and negligent misrepresentation based on alleged...more
On November 16, German lender IKB Deutsche Industriebank AG sued Morgan Stanley and related entities in the Supreme Court for the State of New York for $147 million in connection with the sale of RMBS....more
On October 29, 2012, Goldman Sachs filed a petition for a writ of certiorari to the United States Supreme Court to review the recent Second Circuit Court of Appeals decision on RMBS class standing....more
On October 15, the ACLU filed a putative class action suit on behalf of a group of private citizens against a financial institution alleged to have financed and purchased subprime mortgage loans to be included in mortgage...more
On September 27, HSBC Bank USA, National Association, in its capacity as trustee of ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE4, filed a summons with notice of claims against Deutsche Bank Structured...more
On August 21, 2012, several Prudential entities sued several RBS entities in New Jersey State court seeking to recover damages allegedly suffered in connection with over $343 million in RMBS. Prudential also sued several...more
On June 22, 2012, Sealink Funding Limited filed suit in New York State Court in Manhattan against Deutsche Bank and several of its units related to its alleged purchase of $960 million face amount of RMBS in 19 offerings in...more
On May 25, 2012, the securitization trust of two RMBS sold in 2006 by EMC Mortgage LLC filed a summons with notice in New York State Supreme Court. The action seeks specific performance, compensatory damages in the amount of...more
On March 28, 2012, investors in Ace Securities Corp. Home Equity Loan Trust, Series 2006-SL2 commenced a derivative lawsuit, purportedly on behalf of the Trust, against HSBC Bank, as trustee, and DB Structured Products, Inc.,...more
On March 30, 2012, Ambac Assurance Corp. brought claims against J.P. Morgan Chase, EMC Mortgage, and Bear Stearns in the Supreme Court of the State of New York, alleging fraudulent marketing of RMBS by Bear Stearns. Ambac...more
On March 29, 2012, Dexia filed suit against Merrill Lynch & Co. and related entities in the Supreme Court of the State of New York in connection with $527 million in RMBS it allegedly purchased in fifteen offerings in 2006...more
On March 29, 2012, German bank Landesbank Baden-Wurttemberg (“LBW”) filed a suit against Countrywide Financial Corp. and related entities in the Supreme Court of the State of New York alleging that Countrywide misrepresented...more
The payee, lender and secured parties were acting as sham entities even when they were otherwise real entities, like Wells Fargo.
The banks had to make some OTHER connection between the so-called pools that were in...more
On March 26, 2012, lead plaintiffs in a putative RMBS class-action lawsuit against affiliates of Deutsche Bank AG sought approval of a $32.5 million settlement. The action arose out of alleged misrepresentations Deutsche Bank...more
Plaintiff is an investor in certain residential mortgage-backed securities. Plaintiff brings this action against Wells Fargo for breach of fiduciary duty, breach of contract, breach of the duty of good faith and fair dealing,...more
In This Issue:
Financial Industry Developments
· Attorneys General Complaint on Mortgage Practices
· Fed Results of Stress Tests
· Fed Methodology for Stress Tests
· FHFA Rule on Private Transfer...more
On January 25, 2012, Bayerische Landesbank filed a complaint in New York state court against several Morgan Stanley entities seeking to recover for losses allegedly incurred in connection with certificates in 22 RMBS...more
Here we go again! A commission. The politician's way of seeming to do something, though really doing nothing, all the while defusing criticism and dispersing risk.
Three years late and stunted politically at its very...more
On January 20, 2012, John Hancock Life Insurance Co. filed a complaint in New York state court against JPMorgan Chase & Co. and several related entities and individuals seeking to recover for losses allegedly incurred on...more
On January 20, 2012, Sealink Funding Ltd. filed a complaint in New York state court against several Morgan Stanley entities in connection with certificates in 11 RMBS offerings allegedly purchased by Sealink during 2006 and...more
On January 19, 2012, Dexia SA/NV and related entities filed a complaint in New York state court against JPMorgan Chase & Co. and several related entities in connection with certificates in 53 RMBS offerings that Dexia...more
In a January 17, 2012 press release and 8-K reporting its financial results for the fourth quarter, M&T Bank Corp announced the settlement of a 2008 lawsuit against Deutsche Bank Securities and other entities. The suit, filed...more
Section 924(d) of the Dodd-Frank Act (Dodd-Frank) directs the Security and Exchange Commission (Commission) to establish a separate office within the Commission to administer and to enforce the Section 21F provisions of the...more
Investors that are considering objecting to the proposed $8.5 billion Bank of America (BofA) residential mortgage-backed securitization (RMBS) settlement may now do so by filing -- no later than August 30th -- a short form...more
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