Legal Opinion
Dexia SA/NV v. Stanley
Appellate Division of the Supreme Court of the State of New York
Decided January 12, 2016No. 16627 650231/12PublishedCited by 3 opinions
1Opinion of the Court
Order, Supreme Court, New York County (Eileen Bransten, J.), entered October 18, 2013, which granted defendants’ motion to dismiss the complaint on the ground that the Dexia plaintiffs lacked standing to assert fraud claims, and FSA Asset Management LLC (FSAM) failed to sufficiently allege damages, unanimously affirmed, without costs.
This fraud action arises from plaintiffs’ purchase in 2006 and 2007 of more than $626 million in residential mortgage-backed securities (RMBS) from defendants (Morgan Stanley). In the amended complaint, plaintiffs assert three causes of action against defendants,…
2Cases cited5 opinions
- Lama Holding Co. v. Smith Barney Inc.New York Court of Appeals · 1996
- Small v. Lorillard Tobacco Co.New York Court of Appeals · 1999
- Banque Arabe et Internationale D'Investissement v. Maryland National BankCourt of Appeals for the Second Circuit · 1995
- State of California Public Employees' Retirement System v. Shearman & SterlingNew York Court of Appeals · 2000
- Commonwealth of Pennsylvania Public School Employees' Retirement System v. Morgan Stanley & Co.New York Court of Appeals · 2015
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