Merrill Can't Dodge FHFA Suit Over Fannie, Freddie Losses

Law360, New York (November 8, 2012, 11:20 PM EST) -- A New York federal judge on Thursday refused to let Merrill Lynch & Co. skirt the Federal Housing Finance Agency’s suit accusing it of lying to Fannie Mae and Freddie Mac about the quality of nearly $24.9 billion in residential mortgage backed securities.

In her decision, U.S. District Judge Denise Cote relied on her earlier opinions denying other banks’ motions to dismiss similar Securities Act and fraud claims, specifically UBS AG and JPMorgan Chase, in which she rejected their arguments that the fraud claims were time-barred....
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