June 19, 2013
The Devil is in the Statute of Limitations
NY Supreme Court Justice Kornreich (N.Y. County) issued an opinion ACE Securities Corp. v. DB Structured Products Inc., No. 650980/2012 (May 13, 2013) that diverges in approach from an earlier SDNY opinion as to whether the statute of limitations runs … Continue reading
June 19, 2013 in Investor lawsuits | Permalink | No Comments
May 24, 2013
Reiss on the Ethics of Subprime Lending
Fordham Law School is sponsoring an event on The Mortgage Crisis – Five Years Later on June 3rd. I will be speaking about the ethics of subprime lending on the second panel. The speakers are Panel 1: The Mortgage … Continue reading
May 24, 2013 in Investor lawsuits | Permalink | No Comments
April 24, 2013
Supreme Court of New York County Rules Against Credit Suisse’s Motion to Dismiss MBS Investor Suit
In Stichting Pensioenfonds ABP v. Credit Suisse Group AG, 2012 WL 6929336 (N.Y.Sup. Nov. 30, 2012), the Supreme Court in New York County ruled that the lawsuit against Credit Suisse related to sales of MBS would proceed. The court denied Credit Suisse’s motion … Continue reading
April 24, 2013 in Investor lawsuits | Permalink | No Comments
April 1, 2013
Motion to Dismay
A recent Opinion and Order by Judge Forrest (SDNY) in IBEW Local 90 Pension Fund v. Deutsche Bank AG gives hints of some of the challenges facing plaintiffs in cases alleging misrepresentations and a scheme to defraud investors. Like many … Continue reading
April 1, 2013 in Investor lawsuits | Permalink | No Comments
March 28, 2013
Bransten Trio: Part Tres
The last of the Bransten Trio of cases (previously, I wrote of Part Un and Part Deux) dealing with Allstate’s complaint against Morgan Stanley has some of the allegedly misrepresentative language at issues in such cases. A sampling includes “These … Continue reading
March 28, 2013 in Investor lawsuits | Permalink | No Comments
March 26, 2013
Bransten Trio: Part Deux
As I work through the Bransten Trio of cases on misrepresentation in the securitization process, I am struck by the arguments of the defendants, arguments that do not seem to carry much weight with judges who hear them. In the … Continue reading
March 26, 2013 in Investor lawsuits | Permalink | No Comments
March 20, 2013
A Bransten Trio Join Judicial Chorus on Misrepresentation
Justice Bransten, a judge in the Commercial Division of the N.Y. S. Supreme (trial) Court, issued three similar decisions last week denying motions to dismiss lawsuits by Allstate over its purchase of hundreds of millions of dollars of MBS. The … Continue reading
March 20, 2013 in Investor lawsuits | Permalink | No Comments
