Courts Reject Hindsight Assessments, Dismiss Subprime Securities Suits

In recent decisions in separate subprime-related securities class action lawsuits reflecting a common unwillingness to engage in "backward looking assessments," two different Southern District of New York judges granted defendants' motions to dismiss. In each of the cases, the judge's...

RBS to Pay More Than $153M to Settle Federal Securities Law Violations

NEW HAVEN, Conn. — (Mealey’s) RBS Securities Inc. will pay more than $153 million to settle claims that it misrepresented the investment quality of a $2.2 billion residential mortgage-backed security (RMB) offering it was promoting in violation of federal securities law, according to court...

RBS to Pay $275M to Settle Mortgage-Backed Securities Claims

NEW YORK — (Mealey’s) The Royal Bank of Scotland Group (RBS) will pay $275 million to settle claims that it concealed the investment quality of certain mortgage-backed securities sold in stock offerings in violation of federal securities laws, according to a press release issued today ( New...