July 31, 2017
Monday’s Adjudication Roundup
- Five major U.S. Banks are worried. Previously, the Second Circuit permitted the Federal Deposit Insurance Corporation to file a mortgage securities suit for $140 million dollars against the five banks. Recently, the U.S. Supreme Court heard from the Securities Industry and Financial Markets Association urging the Court to overturn the Second Circuit’s decision.
- A federal Florida court awarded a plaintiff $16.4 million. The award stemmed from an estate dispute with the estate’s attorneys. The jury determined two Florida attorneys breached their fiduciary duty while they oversaw Oliver Bivins estate.
- Genworth Financial Inc. did not provide compelling reasons for a Delaware Chancery Court judge to permit access to various documents during discovery. The Genworth Financial Inc. sought documents from the to-be-sold mortgage insurer; however, the Court protected the documents because “they concern an action the investors filed themselves.“
