Law Practice
Dec. 11, 2007
Securities Fraud Suit Against Mortgage Lender Tossed Out
LOS ANGELES - In a case that may serve as a bellwether for how courts will treat credit-crisis litigation, a federal judge in Los Angeles has dismissed a securities fraud suit against Pasadena-based Indymac Bancorp, one of the country's largest mortgage lenders.
By Gabe Friedman
Daily Journal Staff Writer
LOS ANGELES - In a case that may serve as a bellwether for how courts will treat credit-crisis litigation, a federal judge in Los Angeles has dismissed a securities fraud suit against Pasadena-based Indymac Bancorp, one of the country's largest mortgage lenders.
The plaintiffs likely will return with a second amended complaint. But in a t...
Daily Journal Staff Writer
LOS ANGELES - In a case that may serve as a bellwether for how courts will treat credit-crisis litigation, a federal judge in Los Angeles has dismissed a securities fraud suit against Pasadena-based Indymac Bancorp, one of the country's largest mortgage lenders.
The plaintiffs likely will return with a second amended complaint. But in a t...
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