In early 2008, City of Cleveland filed a lawsuit against various corporate defendants asserting a claim for public nuisance arising out of subprime lending in Cleveland. The United States District Court for the Northern District of Ohio recently issued a decision granting all of the defendants' Rule 12(b)(6) motions. The City of Cleveland has already stated publicly that it intends to appeal. For more information, see the May 15 decision.
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Decision made in City of Cleveland subprime lending case
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