Goldman Slams NCUA's Revival Bid in $491M MBS Suit

Law360, Los Angeles (June 7, 2013, 10:45 PM EDT) -- Goldman Sachs & Co. urged a California federal judge on Friday to reject the National Credit Union Administration Board’s motion for reconsideration of a ruling dismissing several claims in its $491 million fraud suit over mortgage-backed securities the bank sold, saying such “extraordinary remedies” are not justifiable.

In its opposition brief, Goldman argued the NCUA’s request for reconsideration or interlocutory appeal of U.S. District Judge George H. Wu’s Sept. 4 ruling doesn’t justify such remedies. The NCUA, which oversees federal credit unions, sued Goldman in August...
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