Legal Opinion
National Credit Union Administration v. First Union Capital Markets Corp.
District Court, D. Maryland
Decided August 4, 1999No. Civ. WMN-97-4222PublishedCited by 22 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
GAUVEY, United States Magistrate Judge.
This case arises out of the sale of eollaterized mortgage obligations (CMOs) and repurchase agreements that occurred between September 1993 and January 1995. During that time period the defendants, First Union Capital Markets Corp. (First Union) and John FitzHugh, sold the aforementioned securities to Capital Corporation Federal Credit Union, of Lanham, Maryland (CapCorp). In 1993 and 1994 CapCorp heavily invested in CMOs. In August 1993, 57% of CapCorp’s investment portfolio (reflecting a value of $541 million) consisted of CMOs and…
2Cases cited70 opinions
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- O'Melveny & Myers v. Federal Deposit InsuranceSupreme Court of the United States · 1994
- Karen Renee Augustus, a Minor, by Charles A. Augustus, Her Father, and Next Friend v. The Board of Public Instruction of Escambia County, FloridaCourt of Appeals for the Fifth Circuit · 1962
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3Cited by22 opinions
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- Federal Deposit Ins. Corp. v. OrnsteinDistrict Court, E.D. New York · 1999
- United States ex rel. Ackley v. International Business Machines Corp.District Court, D. Maryland · 2000
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