Legal Opinion

Plumbers' Union Local No. 12 Pension Fund v. Nomura Asset Acceptance Corp.

Court of Appeals for the First Circuit

Decided January 21, 2011No. 09-2596PublishedCited by 92 opinions

1Opinion of the Court

BOUDIN, Circuit Judge.

Three union pension and welfare funds 1 appeal from a district court order dismissing at the complaint stage their putative class action against eight trusts, the “depositor” that organized them, the trusts’ underwriters and five officers of the depositor. The lawsuit sought redress for losses suffered when plaintiffs acquired trust certificates representing mortgage-backed securities. The background facts are largely undisputed.

The lead defendant, Nomura Asset Acceptance Corporation (“Nomura Asset”), played the organizing role in the creation of the securities at issue…

2Cases cited54 opinions

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  5. Lewis v. CaseySupreme Court of the United States · 1996

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3Cited by92 opinions

  1. Republic Bank & Trust Company v. Bear Stearns & Company., Inc.Court of Appeals for the Sixth Circuit · 2012
  2. NECA-IBEW Health & Welfare Fund v. Goldman Sachs & Co.Court of Appeals for the Second Circuit · 2012
  3. Pruell v. Caritas ChristiCourt of Appeals for the First Circuit · 2012
  4. United Food & Commercial Workers Unions v. Warner Chilcott Ltd. (In Re Asacol Antitrust Litig.)Court of Appeals for the First Circuit · 2018
  5. Retirement Board of the Policemen's Annuity & Benefit Fund v. Bank of New York MellonCourt of Appeals for the Second Circuit · 2014

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