RBS Seeks To Nix Insurer's Fraud Suit Over $291M In MBS

Law360, New York (June 5, 2013, 7:54 PM EDT) -- RBS Securities Inc. on Monday contested Assured Guaranty Municipal Corp.'s claims that it misrepresented the value of residential mortgage-backed securities worth $291 million to score insurance, arguing that the fraud suit in New York federal court focused on misrepresentations by third parties.

RBS, which stands accused of tricking Assured into providing a financial guaranty policy for the certificates, filed a motion to dismiss the insurer's complaint.

According to RBS, Assured did not plead a proper fraud claim because it did not describe an actionable misrepresentation by...
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