Litigation

Recent Posts

Bank Of America To Set Aside $14 Billion To Settle RMBS Claims
Posted on 29 Jun 2011 by Timothy Raub

CHARLOTTE, N.C. - (Mealey's) Bank of America Corp. will pay $8.5 billion to settle claims regarding "nearly all of the legacy Countrywide-issued first-lien residential mortgage-backed securitization (RMBS) repurchase exposure, representing 530... Read More

Tags: mortgage , RMBS , Gibbs & Bruns LLP , BNY Mellon , Bank of New York Mellon , Litigation , residential mortgage-backed securitization , Bank of America , Countrywide , Securities

The Week In Securities Litigation: DOJ Files Significant Market Crisis Case Against Rating Agency
Posted on 9 Feb 2013 by Thomas O. Gorman

The Department of Justice filed one of the most significant market crisis cases this week against a major rating agency as a defendant. The case centers on years of false statements about ratings given to RMBS and CDOs, according to the complaint, as... Read More

Tags: sec enforcement , RMBS , Recover , Thomas Gorman , SEC Actions , CDOs , U.S. v. McGraw-Hill Companies , Department of Justice , FIRREA , S&P , securities litigation , SEC , Litigation , market crisis , PCAOB , and Enforcement Act of 1989 , DOJ , Financial Institutions Reform , Securities

Standard & Poor's Sued Over Inflated Ratings On Structured Debt Securities
Posted on 5 Feb 2013 by Timothy Raub

LOS ANGELES - (Mealey's) The U.S. government on Feb. 5 announced the filing of a lawsuit in California federal court against Standard & Poor's Ratings Services alleging that the ratings agency lied about its objectivity and independence and... Read More

Tags: Poor's Ratings Services , collateralized debt obligation , RMBS , United States of America v. McGraw-Hill Companies Inc. , FIRREA , financial services , P , CDO , Recovery and Enforcement Act , Litigation , Financial Institution Reform , Residential Mortgage-Backed Securities , Standard &amp , Poor's Financial Services , McGraw-Hill Cos. , structured debt securities , S&amp , Securities