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NY Appeals Court Hands TCW Win In $128M RMBS Suit

Law360, New York (March 3, 2017, 8:46 PM EST) -- A New York appeals court said Thursday that a lower court should have ended a suit alleging TCW Asset Management Co. lied to investors about the value of certain residential mortgage-backed securities products, saying investors hadn’t shown that TCW, rather than the financial crisis, caused their losses.

Judge Shirley Kornreich in October 2015 had refused TCW’s bid for summary judgment in a suit brought by Cayman Islands-incorporated funds Basis Pac Rim Opportunity Fund and Basis Yield Alpha Fund, which alleged the company convinced them to buy...
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