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Results: 1-10 of 85

Financial industry developments

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • May 6 2013

On April 30, the FHFA issued its progress report on the steps being taken to establish a common securitization infrastructure for MBS. The FHFA is

Bank of America discloses NYAGinvestigation and SEC inquiry into RMBS practices

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • March 4 2013

In its February 28, 2013 Form 10-K filed with the SEC, Bank of America disclosed that it is under investigation by the New York Attorney General over

S.D.N.Y denies motion to dismiss RMBS claims against JPMorgan Chase

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • March 4 2013

On February 26, Judge Jed S. Rakoff of the federal district court for the Southern District of New York issued a memorandum explaining the reasoning

Impac settles RMBS suit brought by Citigroup for $3.1 million

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • February 4 2013

On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the

Trustee sues Deutsche Bank over $89 million in RMBS securities

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • February 4 2013

On January 28, HSBC Bank USA, acting in its capacity as Trustee for a single home equity loan trust, filed a complaint in the Supreme Court for the

Israeli bank sues UBS and Goldman Sachs seeking a combined $220 million

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • February 4 2013

On January 29, Bank Hapoalim B.M., Israel's largest bank, filed summonses with notice against UBS AG, Goldman Sachs & Co., and their affiliates, in

Phoenix Light SF and other investors sue Bank of America over $261 million in RMBS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • November 19 2012

On November 13, Phoenix Light SF Limited and other investors filed a summons with notice in the Supreme Court for the State of New York against Bank of America and various Countrywide affiliates

WaMu settles RMBS suit for $26 million

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • September 10 2012

On September 4, 2012, named plaintiffs Doral Bank of Puerto Rico, Policeman’s Annuity Benefit Fund of the City of Chicago and Boilermakers National Annuity Trust moved for approval of a $26 million settlement with Washington Mutual in an action for alleged violations of Sections 11, 12, and 15 of the Securities Act

Irish financial firm sues UBS alleging RMBS misrepresentations

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • September 10 2012

On September 5, 2012 Sealink Funding Limited filed a summons with notice against UBS AG in the Supreme Court for the State of New York for allegedly misrepresenting the nature of nearly $160 million worth of RMBS securities

Second Circuit permits expansive class standing for RMBS purchasers

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • September 10 2012

On September 6, 2012, the United States Court of Appeals for the Second Circuit reversed the dismissal of RMBS claims against Goldman Sachs and related entities based on lack of standing and failure to state a claim

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