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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.