Justice Friedman recently rejected the novel argument that a directing certificateholder is in effect the plaintiff in an action and for that reason a suit so directed fails for lack Continue reading Directing Certificateholder is not the “Effective” Plaintiff in a Put-Back Action
Here are some recent RMBS-related legal developments. First, the Court of Appeals held that the statute of limitations for a claim brought by a trustee is based on where the Continue reading Statute of Limitations for Claim Brought by a Trustee Based on Where Trustee is Located, not Where the Trust was Formed
A certificateholder recently filed a trust instruction proceeding challenging a proposed put-back action settlement relating to OWNIT 2006-7. Here is the petition and the court’s scheduling order.
Here is last week’s decision on US Bank’s motion to dismiss by Justice Borrok in MLRN v. US Bank, 652712/2018, an RMBS trustee action. Read the whole thing; here are Continue reading Pleading Standard in RMBS Cases is a Low Bar
After such a long blogging hiatus, I am back and bursting with a multitude of manipulation-related updates. To keep this post under ten pages, today’s target will be Judge Shah’s decision on the first motion to dismiss in In re: Chicago Board Options Exchange Volatility Index Manipulation Antitrust Litigation. And yes, I said the “first” motion to dismiss – the wheels of justice may turn slowly, but not quite so slowly as this blog has been. Luckily for our readers, this just means that there are fine grinds of not only an order, but an amended complaint and complete motion to dismiss briefing coming your way soon. Continue reading The VIX Is Fixed?! Judge Shah Says This Complaint Must Be Kicked.