Goldman Pares $491M MBS Suit By Credit Union Agency
By Ciaran McEvoy
Law360, Los Angeles (March 14, 2013, 10:34 PM ET) -- A California federal judge Thursday tentatively trimmed the National Credit Union Administration Board's $491 million lawsuit accusing Goldman Sachs & Co. of making misrepresentations regarding residential mortgage-backed securities, ruling that several claims of the agency were time-barred.
U.S. District Judge George H. Wu indicated in a 12-page tentative ruling that the NCUA, which oversees federal credit unions, waited too long to file seven of the NCUA's eight securities claims. The judge indicated in his decision that the 1974 U.S. Supreme Court case American Pipe & Construction...