Genesee County Employees' Retirement System v. Thornburg Mortgage, Inc. et al

  1. December 10, 2012

    Banks Pay $11.5M To Settle Risky Mortgage Bond Class Action

    A group of financial institutions — including Credit Suisse Securities (USA) LLC, RBS Securities Inc. and Greenwich Capital Acceptance Inc. — agreed to pay $11.25 million in New Mexico federal court on Friday to settle a securities class action alleging they misled investors about $5 billion in risky mortgage bonds issued by now-defunct Thornburg Mortgages Inc.

  2. November 29, 2011

    Credit Ratings Agencies Suffer Blow To MBS Defense

    Long-shielded from claims over mortgage-backed security failures, credit ratings agencies may have lost one of their best defenses earlier this month, when a federal judge ruled that not all credit ratings are protected under the First Amendment, experts say.

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