Law360, New York (June 01, 2011, 6:33 PM ET) -- Royal Bank of Scotland Group PLC and 10 underwriter defendants, accused of fraud by preferred investors who bought $950 million in risky mortgage-backed securities, filed separate dismissal bids in New York federal court on Wednesday.
RBS' dismissal motion argues that the relatively few claims remaining in the case — brought by lead plaintiff the Freeman Group — should be litigated in the United Kingdom.
"Dismissal in favor of the U.K. would advance the interest in avoiding duplicative litigation, by reuniting the preferred share claims with the...
RBS, Underwriters Move To Nix Remaining MBS Claims
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