Mealey's (September 15, 2021, 1:40 PM EDT) -- NEW YORK — A federal district court did not err in granting summary judgment to defendants in an alleged fraud scheme whereby investment banks, collateral managers and issuers of collateralized debt obligations (CDOs) alleged misrepresented the collateral managers’ independence of the collateral managers in the selection of assets in the CDOs because investors relied on the advice of the investment adviser and not the defendants’ representations, a Second Circuit U.S. Court of Appeals panel ruled Sept. 13 in affirming....