U.S. Supreme Court Won’t Review Mortgage-Backed Securities Lawsuit Ruling

Mealey's (January 12, 2016, 2:29 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 11 declined to review a Second Circuit U.S. Court of Appeals’ reversal of a federal district court ruling in a securities class action lawsuit against Bank of New York Mellon (BNYM) regarding its sale of certain residential mortgage-backed securities in violation of federal statute (Retirement Board of the Policemen’s Annuity and Benefit Fund of the City of Chicago, et al. v. the Bank of New York Mellon, at trustee under various pooling and servicing agreements, No. 15-314,...
To view the full article, register now.