Judge Tosses Most Of Subprime Suit Against ING

Law360, New York (September 15, 2010, 4:18 PM EDT) -- A federal judge has rejected most claims in an investor-led class action against ING Groep NV, ruling that the financial services giant was not legally required to disclose every detail of its risky reliance on subprime mortgages.

Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York on Tuesday retained only one claim regarding ING's omission of risk information in the lawsuit brought by investors who bought billions of dollars worth of subprime mortgage-backed securities in 2007 and 2008....
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