The Carlyle Group LLP and its lawyers at Williams & Connolly have killed off claims that the company misled shareholders about the riskiness of residential mortgage-backed securities.
In a 10-page decision issued on Tuesday, the U.S. Court of Appeals for the D.C. Circuit tossed consolidated investor class actions against Carlyle Capital Corp,, a now-shuttered investment arm of Carlyle Group, and CCC’s officers and directors. Affirming a 2012 ruling by U.S. District Judge Amy Berman Jackson in Washington, the appeals court held that the plaintiffs failed to back up their gripe that CCC misled investors about the impact RMBS bets were having on its bottom line.
