Investors Take Second Pass At Cert. In $1B RMBS Suit
Law360, Los Angeles (October 18, 2017, 6:26 PM EDT) -- Investors tweaked their class certification bid Tuesday in their suit against Bank of New York Mellon Corp. over $1.12 billion in residential mortgage-backed securities, adding a time constraint to the class definition after a New York federal judge denied their first attempt for being too vague.
In its motion, Royal Park Investments SA/NV clarified that class membership in the suit accusing BNYM of failing in its role as trustee of the residential mortgage-backed securities would only extend to those who held securities in the relevant BNYM trusts between the time those securities were issued to 60 days after class certification is...
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