Legal Opinion
Federal Deposit Insurance v. Banc of America Securities LLC
District Court, C.D. California
Decided March 21, 2013No. Case Nos. 2:11-ML-02265-MRP (MANx), 2:12-CV-6690 MRP (MANx), 2:12-CV-6692 MRP (MANx)PublishedCited by 12 opinions
1Opinion of the Court
Order Re Motions to Dismiss the First Amended Complaints
MARIANA R. PFAELZER, District Judge.
I. Background
Security Savings Bank (“SSB,”) a federally insured depository institution, failed on February 27, 2009. Plaintiff Federal Deposit Insurance Corporation (“FDIC”) was appointed receiver for Security Savings Bank. The FDIC has the authority to pursue any claims held by SSB. 12 U.S.C. § 1821(d)(2)(A). The FDIC files these lawsuits asserting securities law claims arising from SSB’s purchase of six residential mortgage-backed securities (“RMBS” or “certificates”).
The certificates that SSB…
2Cases cited47 opinions
- Helicopteros Nacionales De Colombia, S. A. v. HallSupreme Court of the United States · 1984
- DaimlerChrysler Corp. v. CunoSupreme Court of the United States · 2006
- Sprewell v. Golden State WarriorsCourt of Appeals for the Ninth Circuit · 2001
- American Pipe & Construction Co. v. UtahSupreme Court of the United States · 1974
- Schwarzenegger v. Fred Martin Motor Co.Court of Appeals for the Ninth Circuit · 2004
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3Cited by12 opinions
- In re Countrywide Financial Corp. Mortgage-Backed Securities LitigationDistrict Court, C.D. California · 2013
- Beaver County Employees' Retirement Fund v. Tile Shop Buildings, Inc.District Court, D. Minnesota · 2015
- Federal Deposit Insurance v. Countrywide Securities Corp.District Court, C.D. California · 2013
- In re Plains All American Pipeline, L.P. Securities LitigationDistrict Court, S.D. Texas · 2017
- American International Group, Inc. v. Bank of America Corp.District Court, C.D. California · 2013
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