Stakes Raised For RBS, Goldman In MBS Class Actions
By Pete Brush
Law360, Los Angeles (January 3, 2014, 5:09 PM ET) -- A New York federal judge has added a slew of securities offerings to two class actions — one against the Royal Bank of Scotland Group PLC and a second targeting underwriters including Goldman Sachs & Co. — over mortgage-backed securities, in a ruling that may vastly expand the defendants' liability.
On Dec. 27, U.S. District Judge Harold Baer Jr. added 10 securities offerings to two already certified in the so-called Harborview case, in which plaintiffs are targeting the Scottish financial giant. Meanwhile, 13 offerings were added to...