MDL Panel Refuses To Consolidate Credit Union RMBS Suits

Law360, Wilmington (February 13, 2014, 9:57 PM EST) -- The Judicial Panel on Multidistrict Litigation refused Wednesday to centralize several cases in New York and Kansas federal courts brought by the National Credit Union Administration board accusing mortgage underwriters — including units of Credit Suisse Group AG, Barclays PLC and Morgan Stanley — of misrepresenting residential mortgage-backed securities.

In October the defendants in the cases requested that the litigation over hundreds of millions of dollars in RMBS be centralized, arguing that there was a single plaintiff among all the actions and significant legal and factual...
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