2nd Circ. Won't Certify Investor Class In $7B MBS Suit

Law360, New York (April 30, 2012, 4:24 PM EDT) -- The Second Circuit on Monday refused to certify a class of investors suing Goldman Sachs & Co. and others over $7 billion in mortgage-backed securities, affirming the lower court's holding that individual issues predominated over common issues among the would-be class members.

In a summary order, the Second Circuit said District Judge Harold Baer Jr. did not apply too rigid a legal standard when he refused to certify the group of institutional investors, who also targeted The Royal Bank of Scotland Group PLC, UBS Securities LLC...
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