Raft Of Dismissal Motions Filed In IndyMac MBS Case

Law360, New York (November 24, 2009, 4:29 PM EST) -- Plaintiffs suing units of the failed IndyMac Bank — along with a slew of underwriters, ratings agencies, and individual executives and directors — over $61 billion in mortgage-backed securities are facing motions to dismiss filed by all defendants in the case.

The motions, filed Monday in the U.S. District Court for the Southern District of New York, allege that the lead plaintiffs in the class action, the Wyoming state treasurer and the Wyoming Retirement System, were seeking damages even though they had been paid in full...
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