On October 2nd, the federal and state members of the Residential Mortgage Backed Securities ("RMBS") Working Group announced their first legal action since the working group's formation earlier this year. In his role as a co-chair of the RMBS Working Group, New York Attorney General Eric T. Schneiderman filed a New York state Martin Act lawsuit against JP Morgan Securities LLC (formerly known as Bear Stearns & Co. Inc.), and related entities, for making fraudulent misrepresentations and omissions to promote the sale of RMBS to investors. Justice Department Press Release. Reuters reported that the working group expects to file additional lawsuits. Lawsuits. The National Law Journal noted some of the differences between a case brought solely by the Justice Department and cases such as this, which are brought collaboratively by multiple agencies. Collaborative Effort. On October 3rd, Bloomberg summarized Schneiderman's media comments concerning the lawsuit, noting that the JP Morgan suit will serve as a template for other investigations. Template. On October 4th, the Wall Street Journal discussed the role the statute of limitations may play in this and related lawsuits. Limitations. Bloomberg reported that the New York Attorney General has entered into tolling agreements with 12 firms, effectively extending the Martin Act's six-year statute of limitations for civil cases. Tolling Agreements. Reuters reported the Justice Department and the New York Attorney General are also investigating Credit Suisse's packaging and sale of RMBS. Investigation.