UBS Can Appeal Timeliness Ruling In FHFA's $6B MBS Suit

Law360, New York (June 20, 2012, 2:46 PM EDT) -- A New York federal judge on Tuesday granted UBS America Inc.'s request to appeal a May 4 order rejecting its effort to stamp out a Federal Housing Finance Authority lawsuit over $6.4 billion in mortgage-backed securities sold to Fannie Mae and Freddie Mac.

Though U.S. District Judge Denise Cote ruled May 4 that the FHFA's complaint was filed in a timely fashion and met the standard for alleging Securities Act violations, she said Tuesday that UBS had shown that an interlocutory appeal could yield a speedy...
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