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FDIC v. Merrill Lynch Pierce Fenner

  1. March 28, 2016

    High Court Won't Hear Banks' Appeal In $2B FDIC Battle

    The U.S. Supreme Court on Monday rejected a bid by several big banks to review an appellate decision that revived the Federal Deposit Insurance Corp.'s lawsuit alleging that they lied in the marketing materials and sales of around $2.1 billion in mortgage-backed securities.

  2. December 22, 2015

    High Court Asked To Weigh Repose Statutes In $2B MBS Suit

    Goldman Sachs, Deutsche Bank and RBS have asked the U.S. Supreme Court to block a suit claiming they lied in the sale of $2.1 billion worth of mortgage-backed securities, opening a new front in the battle over extenders for statutes of limitations and their stricter siblings, statutes of repose.

  3. September 14, 2015

    Deutsche, RBS Denied Full 5th Circ. Review In $2B RMBS Row

    The Fifth Circuit has refused Deutsche Bank AG and Royal Bank of Scotland PLC an en banc review of a panel's revival of the Federal Deposit Insurance Corp.’s securities fraud suit over $2.1 billion in residential mortgage-backed securities the banks sold.

  4. September 04, 2015

    SIFMA Urges 5th Circ. To Vacate FDIC Extender Decision

    The Securities Industry and Financial Markets Association has told the Fifth Circuit that its decision reinstating the FDIC’s $2.1 billion mortgage-backed securities suit incorrectly interpreted a statute increasing its limitations period and conflicts with U.S. Supreme Court precedent.

  5. August 26, 2015

    5th Circ. Revival of MBS Suit Flouts High Court, Banks Say

    Deutsche Bank AG and Royal Bank of Scotland PLC have asked the Fifth Circuit to reconsider en banc its recent revival of the Federal Depositors Insurance Corp.'s securities fraud suit over the sale of $2.1 billion in residential mortgage-backed securities, saying the decision defies U.S. Supreme Court precedent.

  6. August 10, 2015

    5th Circ. Revives Gov't's MBS Suit Against Goldman, Others

    The Fifth Circuit on Monday revived a securities fraud suit brought by the Federal Deposit Insurance Corp. against Goldman Sachs & Co. and others in connection with the sale of $2.1 billion in residential mortgage-backed securities, saying the FDIC's so-called extender statute preempts all state limitations periods.

  7. February 27, 2015

    SIFMA Tells 5th Circ. Repose Law Kills FDIC's $2B RMBS Suit

    The Securities Industry and Financial Markets Association on Wednesday asked the Fifth Circuit to find that the extender statute for certain Federal Deposit Insurance Corp. claims doesn't preempt state statutes of repose, in a $2.1 billion residential mortgage-backed securities case targeting Goldman Sachs & Co. and several other banks.