Investor Suit Over Dynex Bonds Granted Class Cert.

Law360, New York (March 8, 2011, 3:17 PM EST) -- A federal judge in New York on Monday granted class certification to a pension fund's lawsuit accusing Dynex Capital Inc. and subsidiary Merit Securities Corp. of securities fraud over bonds backed by thousands of mobile home loans.

Judge Harold Baer Jr. signed off on the motion by lead plaintiff Teamsters Local 445 Freight Division Pension Fund, finding the fund had satisfied the requirements for winning class status in the U.S. District Court for the Southern District of New York.

His order established a class consisting of...
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