2nd Circ. To Eye Class Cert. Denial In MBS Suits

Law360, New York (April 29, 2011, 5:05 PM EDT) -- The Second Circuit on Thursday allowed an appeal of a New York judge's refusal to certify a class in parallel cases brought by investors accusing Royal Bank of Scotland Group PLC and Residential Capital LLC of misleading them into buying mortgage-backed securities.

Two union plaintiffs in the parallel cases, the New Jersey Carpenters Vacation Fund and Boilermaker Blacksmith National Pension Trust, asked the Second Circuit for leave to hear their appeal under Federal Rule of Civil Procedure 23(f), which permits appeals from orders granting or denying...
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