Nomura Says Suits Over $2.8B In MBS Were Filed Too Late

Law360, New York (November 12, 2013, 5:05 PM EST) -- A Nomura Credit & Capital Inc. attorney told a New York state judge during a hearing Tuesday that she might have to choose between her judicial colleagues' opposing conclusions when deciding if four investor lawsuits over $2.8 billion worth of mortgage-backed securities were filed on time.

Joseph J. Frank of Orrick Herrington & Sutcliffe LLP, who represents the Japanese bank, told Judge Marcy Friedman during the hearing in her downtown Manhattan courtroom that two of her colleagues decided the statute of limitations issue differently in similar...
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.