Judge Dismisses Public Nuisance Suit Against Wall Street Firms
May 26, 2009
A federal judge in Ohio dismissed the City of Cleveland’s public nuisance claim against numerous mortgage-backed underwriters, whom city officials blamed for the high foreclosure rate. In her May 15 ruling, Judge Sarah Lioi of the U.S. District Court for the Northern District of Ohio threw out the complaint for failing to show an “unreasonable interference with a public right” and...