Nomura To Pay $21.2M To Exit RMBS Class Action

Law360, New York (August 7, 2013, 5:11 PM EDT) -- A Massachusetts federal judge on Wednesday signed off on a $21.2 million settlement of a securities class action accusing Nomura Holdings Inc. units and executives of lying about the quality of residential mortgage-backed securities they sold in the lead up to the financial crisis.

U.S. District Judge Richard G. Stearns gave his preliminary seal of approval to the deal, subject to further consideration at a final settlement hearing scheduled for December.

Lead plaintiffs Plumbers’ Union Local No.12 Pension Fund, Plumbers' & Pipefitters’ Welfare Educational Fund and...
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