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US Bank Mortgage Trust Investors Denied Cert. In $2B Suit

Law360, New York (January 31, 2018, 2:17 PM EST) -- A Manhattan federal judge on Wednesday said that class certification is not appropriate for investors hoping to stick trustee U.S. Bank NA with the bill for $2 billion of financial crisis-era losses in 25 home mortgage trusts, finding that would-be members in large part bought in at a discount after the fact and were not injured.

U.S. District Judge Paul G. Gardephe’s decision on standing turned aside a would-be class of about 270 investors, which would have been led by a Blackrock Inc. bond fund, against...
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