High Court Questions Settlement's Impact On IndyMac Appeal

Law360, New York (September 24, 2014, 1:09 PM EDT) -- The U.S. Supreme Court on Tuesday ordered the parties in a dispute over whether a long-standing class action tolling provision should apply to certain securities suits to file additional briefs explaining how the appeal might be impacted by a proposed settlement in the underlying class action.

The high court in March agreed to reconsider a Second Circuit decision that blocked the Public Employees' Retirement System of Mississippi and other plaintiffs from intervening in a putative class action accusing several major banks, including IndyMac Bancorp Inc., Morgan Stanley & Co. and Goldman Sachs & Co., of misrepresenting certain mortgage-backed securities.

But the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS