September 11, 2014
The lead plaintiffs and underwriter banks in a class action accusing JPMorgan Chase & Co. and other financial institutions of misleading investors about the inherent risks of IndyMac Bank's mortgage-backed securities reached a proposed $340 million settlement, according to a filing in New York federal court Thursday.
July 24, 2013
A federal judge overseeing a class action accusing units of UBS AG and other banks of not disclosing inherent risks in IndyMac Bank's mortgage-backed securities revived claims Tuesday over offerings in which investors didn't personally invest, following the Second Circuit's allowance of similar claims against Goldman Sachs & Co.
January 18, 2013
The Second Circuit on Thursday denied a petition by a number of banks, a unit of now-defunct IndyMac Bank and several IndyMac executives to appeal class certification in a suit accusing them of failing to disclose the risks of mortgage-backed securities issued by IndyMac.
August 20, 2012
A New York federal judge on Friday certified a class of investors in a suit accusing a number of banks, a unit of now-defunct IndyMac Bank and several IndyMac executives of failing to disclose risks inherent in mortgage-backed securities issued by IndyMac, saying common issues were predominant over individual issues.
August 01, 2012
The lead pension funds in a class action accusing a host of banks and several others of failing to disclose risks inherent in mortgage-backed securities issued by IndyMac Bank told a New York federal court Tuesday they had reached a tentative $6 million partial settlement with five former executives of the failed bank.