BofA, Goldman, UBS, Others Exit IndyMac MBS Suit

Law360, New York (June 21, 2010, 7:12 PM EDT) -- Many of the remaining defendants in the IndyMac Bank mortgage-backed securities class action, including Bank of America Corp., Citigroup Inc., UBS Securities LLC, HSBC Securities USA Inc. and Goldman Sachs & Co., have been let off the hook for allegedly failing to disclose the risks inherent in those securities.

Judge Lewis A. Kaplan in the U.S. District Court for the Southern District of New York on Monday ordered the dismissals of the financial giants, IndyMac itself and a number of individual defendants.

The named plaintiffs have...
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