Reuters: Regulatory News: UBS loses bid to dismiss FHFA mortgage debt case

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UBS loses bid to dismiss FHFA mortgage debt case May 4th 2012, 18:20 Fri May 4, 2012 2:20pm EDT May 4 (Reuters) - A U.S. judge rejected UBS AG's bid to dismiss a federal regulator's lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt. The case is one of 17 brought last year against various banks by the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac. Friday's decision by U.S. District Judge Denise Cote in Manhattan is the first to consider a motion to dismiss. In her decision, Cote denied UBS' motion to dismiss the FHFA's securities law claims, and granted its motion to dismiss the regulator's negligent misrepresentation claims.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions