Washington State Court Strikes Jury Demands in RMBS Case

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On March 7, Judge Laura Inveen of the King County Superior Court in Washington State granted the motion to strike jury demands filed by defendants in 11 RMBS actions brought by the Federal Home Loan Bank of Seattle. Judge Inveen ruled that claims for rescission or rescissionary damages under the Washington State Securities Act are equitable in nature and thus not eligible to be tried to a jury. Orrick successfully briefed and argued the motion. Order.