Kannon Shanmugam of Williams & Connolly and E. Joshua Rosenkranz of Orrick, Herrington & Sutcliffe have had more than their share of high-profile wins over the years. They both did it again this week, knocking out a billion-dollar judgment that had stood out as a bright spot for prosecutors in the wake of the financial crisis.
The U.S. Court of Appeals for the Second Circuit on Monday reversed a ruling by prominent U.S. District Judge Jed Rakoff, who had held that Bank of America Corp.’s Countrywide Financial unit duped Fannie Mae and Freddie Mac about the quality of thousands of risky mortgages. Rakoff’s decision put BofA, represented by Shanmugam, on the hook for $1.27 billion.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
