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The National Credit Union Administration has sued a UBS unit for allegedly making misrepresentations in the sale of more than $1 billion in mortgage-backed securities to two credit unions that failed. The suit, filed on Thursday in Kansas federal district court, is the latest by the NCUA against financial institutions that sold mortgage-backed securities to now-defunct corporate credit unions.
Lawsuit alleges UBS made misrepresentations in sales of securities
The National Credit Union Administration is suing a UBS unit for mortgage-backed securities sales to two credit unions that later failed.ARGUED DECEMBER 4, 2009Before POSNER, RIPPLE, and WOOD, Circuit Judges.Rex Carr, a successful class action lawyer in southern Illinois, is locked in mortal combat with his former law partners, t
Ineligible In-House Counsel, Multijurisdictional Practitioners and Pro Hac Vice Attorneys
Notice to the bar.Sweepstakes Class Action Settles for $33M, and $8M in Legal Fees
Plaintiffs in a class action suit against American Family Publishers sweepstakes came up winners last week, winning a $33 million settlement plus $8 million in legal fees. The complaint alleged deceptive sweepstakes mailings induced recipients to order magazines and merchandise by creating the false impression that the purchases were necessary to win, or improved the odds of winning.Trending Stories
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