Federal Deposit Insurance v. Bear Stearns Asset Backed Securities I LLC

Opinion and Order

LAURA TAYLOR SWAIN, District Judge.

In this action Plaintiff, the Federal Deposit Insurance Corporation, as receiver for both Citizens National Bank (“CNB”) and Strategic Capital Bank (“SCB,” and together with CNB the “Banks”), sues Bear Stearns Asset Backed Securities I LLC (“BSABS”); the Bear Stearns Companies LLC; J.P. Morgan Securities LLC; Citicorp Mortgage Securities, Inc. (“CMSI”); CitiMortgage, Inc. (“CitiMort-gage”); Citigroup Global Markets Inc. (“Citigroup”); Credit Suisse First Boston Mortgage Securities Corp.; Credit Suisse Management LLC (“Credit Suisse Mgmt.”);…