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Federal Court dismisses United States action against Countrywide in part

Orrick Herrington & Sutcliffe LLP
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USA
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May 13 2013

On May 8, Judge Jed Rakoff of the United States District Court for the Southern District of New York dismissed claims by the United States for

Court denies Goldman Sachs's motion to dismiss RMBS action brought by Prudential

Orrick Herrington & Sutcliffe LLP
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USA
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April 15 2013

On April 9, Judge Susan Wigenton of the U.S. District Court for the District of New Jersey denied Goldman Sachs's motion to dismiss Prudential's

Prudential sues Bank of America over $2 billion in RMBS

Orrick Herrington & Sutcliffe LLP
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USA
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March 25 2013

On March 14, several Prudential entities filed suit in the United States District Court for the District of New Jersey against several Bank of

Corruption charges brought against former employees of HBOS’s high risk lending unit

Orrick Herrington & Sutcliffe LLP
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USA
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January 14 2013

On January 8, the Crown Prosecution Service issued a press release stating that eight people had been charged in connection with Operation Hornet, an

IKB files suit against Morgan Stanley over $147m in RMBS

Orrick Herrington & Sutcliffe LLP
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USA
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December 3 2012

On November 16, German lender IKB Deutsche Industriebank AG sued Morgan Stanley and related entities in the Supreme Court for the State of New York for $147 million in connection with the sale of RMBS

CIFG sues Bank of America over RMBS insurance policies

Orrick Herrington & Sutcliffe LLP
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USA
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December 3 2012

On November 20, CIFG sued Bank of America in Supreme Court for the State of New York concerning five financial guaranty policies issued in connection with two structured transactions backed by 22 RMBS

DZ Bank files lawsuit against Morgan Stanley over $694m in RMBS

Orrick Herrington & Sutcliffe LLP
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USA
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December 3 2012

On November 21, Deutsche Zentral-Genossenschaftsbank AG filed a summons with notice in Supreme Court for the State of New York against Morgan Stanley in connection with the German bank’s alleged purchase of $694 million in RMBS

Bank Hapoalim brings $361m RMBS lawsuit against JPMorgan

Orrick Herrington & Sutcliffe LLP
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USA
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August 20 2012

On August 10, Bank Hapoalim BM, an Israeli bank, filed a summons with notice against JPMorgan Chase & Co. in New York state court in connection with its purchase of $361 million in residential mortgage-backed securitites

FDIC files five lawsuits against bank entities over RMBS

Orrick Herrington & Sutcliffe LLP
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USA
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August 20 2012

On August 10, the FDIC in its capacity as receiver for Colonial Bank filed five lawsuits three in Alabama state court, one in New York federal court, and one in California federal court seeking $741 million in damages from a number of investment banks, including Bank of America Corp., JPMorgan Chase & Co., Citigroup, Inc., and others, for making allegedly false and misleading statements that induced Colonial Bank into buying mortgage-backed securities

Sealink brings $587m RMBS lawsuit against Goldman Sachs

Orrick Herrington & Sutcliffe LLP
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USA
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August 20 2012

On August 13, Sealink Funding Ltd. filed a summons with notice against Goldman Sachs & Co. in New York state court over its purchase of nearly $587 million in residential mortgage-backed securities