Editor: David Reiss
Brooklyn Law School

January 16, 2017

Monday’s Adjudication Roundup

By Robert Engelke

  • The U.S. Securities and Exchange Commission has received a settlement offer from real estate developer Lobsang Dargey in a $136 million EB-5 fraud case playing out in Washington federal court, signaling a possible resolution to the high-profile case.
  • Morgan Stanley, Credit Suisse AG and other megabanks on Wednesday urged a New York state judge to ditch multiple lawsuits over nearly $2 billion worth of residential mortgage-backed securities brought by a stand-in for defunct Belgian banking giant Fortis Bank NV/SA
  • Moody’s Corp. said Friday it has agreed to pay $864 million in a settlement with the U.S. Department of Justice and 21 states over the ratings agency’s work on residential mortgage backed securities and other products whose crashes led to the financial crisis.
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