High Court Revives ING MBS Suit In Light Of Omnicare
Law360, New York (March 30, 2015, 11:16 AM EDT) -- The U.S. Supreme Court on Monday vacated a Second Circuit decision to quash a shareholder class action accusing ING Groep NV of illegally hiding risks surrounding its mortgage-backed securities, remanding the case for further consideration in light of the high court's Omnicare decision last week.
The order from the Supreme Court, which granted a petition for a writ of certiorari in Freidus et al v. ING Groep NV et al., restarts a class action that the New York federal appeals court previously declined to revive.
Attorneys for the plaintiffs and defendants did not immediately respond to messages seeking comment.
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!