Royal Park Loses 2nd Cert. Try In BNY Mellon MBS Suit

By Reenat Sinay (February 19, 2019, 3:34 PM EST) -- Royal Park Investments SA/NV's bid for class certification in its suit against The Bank of New York Mellon Corp. over failed mortgage-backed securities was denied for the second time by a New York federal judge who found that the investors' claims did not satisfy class action commonality requirements.

U.S. District Judge Gregory H. Woods on Friday rejected the investors' attempt to certify their class because questions of law or fact common to all class members did not dominate individualized circumstances and failed to fulfill the central tenet of commonality under the Federal Rules of Civil Procedure's class action requirements, also known...

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