HSBC, Nomura Targeted Over $99M In MBS Trust Losses

Law360, New York (December 22, 2011, 9:14 PM EST) -- The majority investor in a loan trust sued HSBC Bank USA and Nomura Credit & Capital Inc. on Tuesday, seeking at least $99 million in damages over the companies' alleged misrepresentations of risk in mortgage-backed securities and failure to remedy losses associated with a loan pool. 

Investment affiliates Zambezi C2 and C4 LCC filed their complaint in the Supreme Court of the State of New York alleging that Japan-based securities and investment banker Nomura had misrepresented the credit quality and other characteristics of the loans in...
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