MassMutual Sues RBS Over $235M In 'Junk' MBS

Law360, New York (February 24, 2011, 8:16 PM EST) -- Massachusetts Mutual Life Insurance Co. on Thursday stepped up its battle over mortgage-backed securities, accusing RBS Group PLC units of misrepresenting $235 million in sales of the instruments.

MassMutual filed its complaint in the U.S. District Court for the District of Massachusetts, alleging that RBS misrepresented details of the mortgage loans that backed the securities RBS Financial Products Inc. — then operating as Greenwich Capital Financial Products Inc. — sold to the plaintiff between May 2005 and September 2007.

The suit follows MassMutual's Feb. 16 complaint...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.