FHFA's Claims Not Too Late In $6B UBS Suit, Judge Rules

Law360, New York (June 26, 2012, 10:53 PM EDT) -- A New York federal judge on Tuesday rejected UBS Americas Inc.'s contention that certain Securities Act claims were time-barred in a Federal Housing Finance Authority lawsuit over $6.4 billion in mortgage-backed securities sold to Fannie Mae and Freddie Mac, ruling on an issue left open in an earlier order.

U.S. District Judge Denise Cote revisited a May 4 order broadly declining to toss the case against UBS with the exception of negligent misrepresentation claims, rejecting the defendants' contention that the Securities Act claims on seven securities...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.