Assured Guaranty Files Suit Against UBS AG for RMBS Insurance Losses

On February 2, 2012, Assured Guaranty Municipal Corp. filed a complaint in New York state court against UBS AG related to RMBS issued in 2006 and 2007. Assured claims that it would not have insured 2,400 allegedly defective loans had their quality been adequately described. The complaint alleges breach of contract claims for which Assured seeks an unspecified amount of damages. Complaint.


Published In: Finance & Banking Updates, Insurance Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick, Herrington & Sutcliffe LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »