Liberty Mutual Wants 2nd Circ. To Revive Goldman MBS Suit

Law360, New York (November 19, 2012, 6:03 PM EST) -- Liberty Mutual Insurance Co. asked the Second Circuit on Friday to revive its claims in multidistrict litigation accusing Goldman Sachs & Co. of failing to reveal Fannie Mae's exposure to hundreds of billions of dollars in risky mortgage loans in the run-up to Fannie Mae stock offerings.

Liberty Mutual said U.S. District Judge Paul A. Crotty ignored key factual allegations that Goldman had drafted and distributed offering documents falsely representing Fannie Mae’s core capital when he dismissed Liberty's Massachusetts and Washington state law claims in August,...
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