News
Federal District Court Dismisses MBS Fraud Claim Against LLF Client
On April 13, 2010, LLF prevailed on a motion to dismiss a lawsuit for alleged fraud in the sale of mortgage-backed securities. In the decision, the United States District Court for the Western District of Kentucky rejected plaintiff's claim that LLF's client, a money center investment bank, made misrepresentations and omissions in connection with the sale of these securities.
The Court held, among other things, that the risks of investment about which plaintiff complained it had been misled had been disclosed in publicly-files offering documents.
Levi Lubarsky & Feigenbaum llp