Appeals Court Revives FDIC Lawsuits v. MBS Issuers; NY Judge Nixes GE’s Motion for Summary Judgment
August 14, 2015
A federal appeals court in New Orleans has overturned a 2014 district court ruling, reviving two government MBS lawsuits that were initially dismissed because they were filed past the state’s established time limit. The Federal Deposit Insurance Corp.’s separate lawsuits against RBS Securities Inc., on one hand, and against Deutsche Bank and Goldman Sachs, were both filed on Aug. 17, 2012. The complaints alleged that the banks misled investors about the credit quality of the mortgage loans that backed $840 million in non-agency MBS. The district court’s decision to dismiss, however, turned on...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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