News & Analysis as of

Negligent Misrepresentation Fraud Residential Mortgage-Backed Securities

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Tennessee Chancery Court Denies Motion to Dismiss $164 Million RMBS Suit Brought by Tennessee Pension Fund - On May 24, 2016, Chancellor Carol L. McCoy of the Chancery Court for Davidson County, Tennessee, declined to...more

Orrick - Finance 20/20

Goldman Sachs’s Motion to Dismiss Mostly Denied in $73M RMBS Suit

On June 29, 2015, Justice Eileen Bransten of New York Supreme Court granted Goldman Sachs Group Inc.’s (“Goldman”) motion to dismiss a cause of action for negligent misrepresentation but denied Goldman’s motion to dismiss...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

Deutsche Bank Sued for Fraud in Connection with US$535 Million in RMBS

Orrick - Finance 20/20 on

In a lawsuit filed in New York State Court on August 5, Royal Park Investments SA/NV (RPI) alleged that several Deutsche Bank affiliates fraudulently induced it to invest in more than US$535 million worth of RMBS in...more

Orrick - Finance 20/20

Class Action Brought Against S&P and Moody’s in Illinois State Court

Orrick - Finance 20/20 on

On July 3, First National Bank and Trust Company of Rochelle, Illinois (FNBR) filed a putative class action lawsuit against McGraw-Hill Companies Inc., Standard and Poor’s Rating Services (S&P) and Moody’s Corp. in Illinois...more

Orrick - Finance 20/20

Court Dismisses In Part RMBS Suit Against Countrywide, Dismissed In Entirety Against Bank of America

Orrick - Finance 20/20 on

On December 6, Judge Mariana Pfaelzer of the United States District Court for the Central District of California dismissed in part claims brought by several insurance companies, including Minnesota Life Insurance Company, in...more

Orrick - Finance 20/20

Sixth Circuit Affirms Dismissal of Claims Against Credit Rating Agencies

Orrick - Finance 20/20 on

On December 3, the United States Court of Appeals for the Sixth Circuit affirmed a decision by Judge James K. Graham of the Southern District of Ohio dismissing, with prejudice, claims against three credit-rating agencies –...more

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