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Volume 2014 - Number 40

October 24, 2014

Court Dismisses $210 Million MBS Suit Against Merrill Lynch, Plaintiffs’ Counsel Admonished

A New York trial court judge has dismissed an investor lawsuit alleging fraud by Merrill Lynch in the sale of residential MBS because the plaintiffs failed to meet the state’s pleading standard for fraud claims. Justice Charles Ramos of the New York Supreme Court dismissed an amended complaint brought by Phoenix Light SF Ltd. and other investors against Merrill Lynch and several big banks. The complaint combined...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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