TCW Can't Nix Punitive Damages Claim In $128M MBS Suit

Law360, New York (January 10, 2014, 4:48 PM EST) -- A New York judge on Thursday rebuffed TCW Asset Management Co.’s attempt to dismiss a bid for punitive damages in a $128 million lawsuit accusing it of lying to investors about the value of a mortgage-backed collateralized debt obligation, saying the request was not properly brought.

In a brief order, Judge Shirley Werner Kornreich said TCW should have included its move for the dismissal of punitive damages in its original motion to dismiss, which she denied in September.

That ruling allowed two Cayman Islands-incorporated plaintiffs, Basis...
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