A Southern District judge’s ruling last week denying dismissal of most claims in a group of mortgage-backed securities repurchase suits sends another clear signal that courts are turning to an ever-expanding body of law to allow investors’ claims to move forward.
Last Thursday, Southern District Judge Alison Nathan, ruling in the consolidated set of cases Ace Securities Series 2007-HE3, Series 2007-WM2, Series 2007-HE4, 2007-HE5, v. Deutsche Bank, upheld each cause of action, save for declaratory judgment.
The suits, brought between March and May 2013 by Holwell Shuster & Goldberg on behalf of plaintiff trustee HSBC Bank, allege that sponsoring institution Deutsche Bank Structured Products misstated the quality of the residential mortgage loans securitized into these trusts, then refused to cure or repurchase the loans upon learning they breached the underlying representations and warranties.
To view this content, please continue to Lexis Advance®.
Not a Lexis Advance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at email@example.com