Underwriters Ask 5th Circuit To Rehear Claims In Securities Fraud Suit
(September 21, 2015, 11:36 AM EDT) -- HOUSTON — Defendants in a securities fraud lawsuit filed a petition for rehearing en banc in the Fifth Circuit U.S. Court of Appeals on Aug. 24, arguing that a Fifth Circuit panel’s prior ruling in the action is at odds with U.S. Supreme Court and Fifth Circuit precedent (Federal Deposit Insurance Corp. v. RBS Securities Inc., et al., No. 14-51055, 5th Cir.).
(Petition for rehearing en banc available. Document #57-150921-502B.)
The FDIC, as receiver for Guaranty Bank, sued RBS Securities Inc., Goldman, Sachs & Co. and...