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...
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