Among the many cases filed as part of the subprime
litigation wave are the numerous cases filed on behalf of holders of
mortgage-backed securities against the firms that issued the securities. In
many of these cases, the plaintiffs have not alleged that they have failed to
receive payments due under...
Michael Lewis continues his around the world tour of the
2008 financial crisis from the view of Germany: It's
the Economy, Dummkopf! . The story in the September issue of Vanity Fair
seems to be all about excrement. We heard that there were big chunks of the
mortgage securities business that...
The Residential Mortgaged Backed Securities Working Group
it the newest government initiative to investigate the mortgage securitization
process which many believe is at the core of the recent market crisis. The new
task force was announced by the President in his State of the Union speech last
SEATTLE - (Mealey's) Lead plaintiffs and defendants in a securities
class action lawsuit against two subsidiaries of Washington Mutual Bank and
certain of its officers and directors have agreed to a $26 million settlement
on claims that the defendants misrepresented the investment quality of certain...
The SEC and the U.S. Attorney for the District of
Connecticut filed, respectively, civil and criminal fraud charges against a
former account executive at Jefferies & Co. arising out of the financial
crisis. The charges center on the sale of mortgage backed securities or MBS to
In what is the largest settlement so far of an
mortgage-backed securities class action lawsuit filed as part of the subprime
and credit-crisis securities litigation wave, the parties to the consolidated
Countrywide mortgage-backed securities suit pending in the Central District of
LOS ANGELES - (Mealey's) Countrywide Financial Corp. will
pay $500 million to shareholders in three related securities class action
lawsuits to settle claims that it misrepresented the investment quality of
mortgage-backed securities (MBS) in what is being called the largest-ever MBS
NEW YORK - (Mealey's) Bank of America Corp. (BoA) will
pay nearly $1.7 billion to MBIA Inc. and certain of its subsidiaries to settle
claims in New York State court that BoA misrepresented the investment quality
of and risk associated with certain mortgage-backed securities (MBS) it sold to
NEW YORK — (Mealey’s) Barclays Bank PLC and certain of its affiliates will pay $280 million to settle claims with the Federal Housing Finance Agency (FHFA) in two related lawsuits alleging that Barclays and its affiliates misrepresented the investment quality of certain residential mortgage...
AIG has agreed to pay $960 million to settle the consolidated securities class action lawsuit that had been filed against the company and certain of its directors and officers in the wake of the company’s near collapse at the peak of the credit crisis. The settlement, which AIG disclosed in its...