Cambridge Place Seeks Remand Of Suit Over $825M In MBS

Law360, New York (July 6, 2011, 1:28 PM EDT) -- A U.S. unit of Cambridge Place Investment Management LLP suing several financial giants over $825 million in shoddy mortgage-backed securities it purchased on the secondary market asked on Tuesday that its case be remanded back to a Massachusetts state court.

Cambridge Place Investment Management Inc. said in a memorandum filed in federal court in Boston that the lawsuit's proper venue is Massachusetts Superior Court, despite the 16 investment banks' contention that federal court was the proper venue because several of the non-party originators whose mortgages were...
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