News & Analysis as of

Fraud Residential Mortgage-Backed Securities Misrepresentation

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Burr & Forman

It’s Good to be the King: Nullus Tempus Allows TN Fund’s Suit on Decade-Old RMBS Buys

Burr & Forman on

Chancellor Carol McCoy allowed a Tennessee state retirement fund’s securities suit over decades-old RMBS purchases to continue last week, holding that time doesn’t run against the king – even on statutes of repose....more

Dorsey & Whitney LLP

SEC Charges Three RMBS Traders With Lying To Clients

Dorsey & Whitney LLP on

The SEC and the U.S. Attorney’s Office for the District of Connecticut charged three senior traders with fraud by misrepresenting pricing information to clients regarding securities traded in opaque markets. In those markets...more

Orrick - Finance 20/20

Greenpoint’s Motion to Dismiss Loan Misrepresentation Suit Granted in Part

Orrick - Finance 20/20 on

On October 15, Judge Donovan Frank of the U.S. District Court for the District of Minnesota, granted in part and denied in part Greenpoint Mortgage Funding’s motion to dismiss a lawsuit filed by Residential Funding Co., an...more

Orrick - Finance 20/20

Second Circuit Vacates Judge Rakoff’s Ruling Rejecting SEC-Citigroup Settlement

On June 4, the U.S. Court of Appeals for the Second Circuit vacated a November 28, 2011, decision of the U.S. District Court for the Southern District of New York in which the district court declined to approve a settlement...more

Orrick - Finance 20/20

Judge Dismisses Federal Securities Claims from NCUA Action Against Morgan Stanley

Orrick - Finance 20/20 on

On January 22, Judge Denise Cote of the U.S. District Court for the Southern District of New York trimmed claims from a lawsuit brought by the National Credit Union Administration Board, as liquidating agent for various...more

Orrick - Finance 20/20

Goldman Sachs Motion to Dismiss RMBS Fraud Suit Granted in Part, Denied in Part

Orrick - Finance 20/20 on

On November 26, Justice Melvin Schweitzer of the New York Supreme Court granted in part and denied in part Goldman Sachs’s motion to dismiss a lawsuit brought by HSH Nordbank. Justice Schweitzer dismissed claims arising out...more

Sheppard Mullin Richter & Hampton LLP

All Residential Mortgage Backed Securities Cases To Be Assigned To Justice Friedman of the Commercial Division

As reported yesterday in the New York Law Journal, Justice Marcy Friedman of the Commercial Division in Manhattan will now be assigned any new case filed in New York Supreme Court that alleges fraud or misrepresentation...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside The Courts - December 2012

This issue of Inside the Courts, Skadden's securities litigation newsletter, includes summaries and associated court opinions of selected noteworthy cases principally decided from July to November 2012. This edition addresses...more

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