Judge Keeps Intervenor Plaintiffs In $7B Goldman MBS Suit

Law360, New York (January 4, 2013, 6:44 PM EST) -- A New York federal judge on Thursday allowed a class action to proceed over approximately $7 billion in mortgage-backed securities against a host of issuers and underwriters, including Goldman Sachs Group Inc., rejecting the argument that intervening plaintiffs joined the suit too late.

U.S. District Judge Harold Baer Jr. said that although the intervenor plaintiffs in the case — which also includes The Royal Bank of Scotland Group PLC, UBS Securities LLC and Residential Capital LLC and other industry players as defendants — more than three...
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