Nomura Sued Over Investors' $486M Mortgage Bond Losses

Law360, New York (March 29, 2013, 4:06 PM EDT) -- Investors in mortgage-backed securities issued by Nomura Holdings Inc. on Thursday sued Japan's largest brokerage alleging that it did not provide compensation for more than $486 million in losses they have suffered on the securities, as required by their governing contracts.

In a suit filed in New York State Supreme Court in Manhattan, investors in the securities said that Nomura is obligated to compensate them for losses on the securities if they were the result of misrepresentations about the quality and characteristics of the underlying loans,...
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