Fixed Income Shares: Series M v. Citibank N.A.

OPINION AND ORDER

JESSE M. FURMAN, District Judge:

' This case is one of many derivative actions recently brought, in this Court and New York state court, against trustees of trusts containing residential mortgage backed securities. In this case, Plaintiffs sue Citibank N.A, (“Défendant” or “Citibank”) in its capacity as trustee for twenty-seven such trusts, alleging that Citibank breached its contractual duties, committed several state-law torts, and violated the Trust Indenture Act of 1939, 15 U.S.C. §§ 77aaa et seq. (“TIA”). Pursuant to Rules 12(b)(1) and 12(b)(6) of the Federal Rules of…