2nd Circuit Revives FDIC Securities Law Claims Against Issuers, Underwriters

(January 20, 2017, 12:22 PM EST) -- NEW YORK — The Federal Deposit Insurance Corp., as receiver for two failed banks, properly filed its complaint for violations of federal securities law within the limits of the FDIC extender statute, and a federal district court erred in dismissing the lawsuit as untimely, a Second Circuit U.S. Court of Appeals panel ruled in a Jan. 18 summary order, reversing and remanding (Federal Deposit Insurance Corp., as receiver for Citizens National Bank and Strategic Capital Bank, v. Credit Suisse First Boston Mortgage Securities Corp., et al., No. 15-1057, 2nd Cir.)....

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