Financial Institutions Sued Over Subprime Losses From CDO Investments

DALLAS - An investor sued a number of financial institutions in Texas federal court on Nov. 11, alleging that the institutions misrepresented the risk of loss associated with certain subprime mortgage-backed securities they sold to the bank in violation of state and federal securities laws (Town North Bank, NA v. Shay Financial Services Inc., et al., No. 11-3125, N.D. Texas). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com Full story on lexis.com