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Residential Mortgage-Backed Securities False Statements

Residential Mortgage-Backed Securities are financial instruments consisting of residential mortgages pooled together to form larger more complex financial commodities.
Robins Kaplan LLP

Your daily dose of financial news - The Brief – 8.16.16

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ValueAct Capital Mgmt, an activist investor, has taken a $1.1 billion stake in Morgan Stanley with 38 million shares that represent about 2% of shares outstanding. Unlike normal activists (at least for now), ValueAct took the...more

Orrick - Finance 20/20

Federal Appellate Court Reinstates RMBS Action Against Moody’s

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On May 2, 2016, the First Circuit Court of Appeals reinstated a $5.9B suit brought by the Federal Home Loan Bank of Boston (“FHLBB”), alleging that Moody’s Corp and Moody’s Investor’s Service, Inc. (together, “Moody’s”)...more

Orrick - Finance 20/20

5th Circuit Revives FDIC’s Suit Against Goldman, Deutsche Bank, and Royal Bank of Scotland

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On August 10, 2015, the Fifth Circuit revived a securities fraud suit brought by the Federal Deposit Insurance Corporation (“FDIC”) as receiver for Guaranty Bank against Goldman Sachs & Co., Deutsche Bank AG, and the Royal...more

BakerHostetler

2015 Mid-Year Securities Litigation and Enforcement Highlights

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Welcome to the 2015 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

Bilzin Sumberg

BofA’s Inconsistent Positions

Bilzin Sumberg on

Bank of America recently moved to dismiss a lawsuit filed by Ambac Assurance Corp. in New York state court, alleging $600 million in damages for fraudulent inducement in connection with payments it made under policies...more

Orrick - Finance 20/20

HSBC Settles RMBS Claims with FHFA

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On September 12, the FHFA and several HSBC affiliates and certain of their current and former officers (collectively, HSBC) announced a US$550 million settlement of claims that the FHFA had brought against HSBC in the...more

Orrick - Finance 20/20

JP Morgan Sued by Investors Over $1.7B in Mortgage-Backed Securities

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On August 21, a collection of investors including Phoenix Light SF Limited, Blue Heron Funding II Ltd. and Kleros Preferred Funding V PLC (the Investors) brought suit against a number of JP Morgan and Bear Stearns entities in...more

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