2nd Circ. Snubs IndyMac's Bid To Appeal Cert. In MBS Case
By Jake Simpson
Law360, New York (January 18, 2013, 4:17 PM ET) -- The Second Circuit on Thursday denied a petition by a number of banks, a unit of now-defunct IndyMac Bank and several IndyMac executives to appeal class certification in a suit accusing them of failing to disclose the risks of mortgage-backed securities issued by IndyMac.
The Second Circuit denied the petition to challenge an Aug. 20 order by U.S. District Judge Lewis A. Kaplan that mostly granted a motion for class certification by co-lead plaintiffs and pension funds Wyoming Retirement System and the Police and Fire Retirement System...