Investors Get Class Cert. In Risky IndyMac MBS Suit

Law360, New York (August 20, 2012, 2:50 PM EDT) -- A New York federal judge on Friday certified a class of investors in a suit accusing a number of banks, a unit of now-defunct IndyMac Bank and several IndyMac executives of failing to disclose risks inherent in mortgage-backed securities issued by IndyMac, saying common issues were predominant over individual issues.

U.S. District Judge Lewis A. Kaplan mostly granted a motion for class certification by co-lead plaintiff and pension fund Wyoming Retirement System, saying the fund had proven its class claims on nine MBS issues by IndyMac...
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