Judges have collectively knocked out billions in claims because mortgage-backed securities plaintiffs didn't invest in the individual offerings--or even tranches--of securities on which they based their allegations. On Thursday the Second Circuit put some crucial limits on the banks' standing defense, rejecting arguments by Sullivan & Cromwell and reviving an MBS class action against Goldman Sachs.
MBS Plaintiffs Chip Away at Banks' Standing Defense at Second Circuit
The Litigation Daily
September 6, 2012
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