December 10, 2012
A group of financial institutions — including Credit Suisse Securities (USA) LLC, RBS Securities Inc. and Greenwich Capital Acceptance Inc. — agreed to pay $11.25 million in New Mexico federal court on Friday to settle a securities class action alleging they misled investors about $5 billion in risky mortgage bonds issued by now-defunct Thornburg Mortgages Inc.
November 29, 2011
Long-shielded from claims over mortgage-backed security failures, credit ratings agencies may have lost one of their best defenses earlier this month, when a federal judge ruled that not all credit ratings are protected under the First Amendment, experts say.