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On February 14, the Royal Bank of Scotland and a plaintiff class, led by New Jersey Carpenters Health Fund and the Boilermaker Blacksmith Pension trust, reported to the court that the parties had reached a settlement in principle in an RMBS case in the United States District Court for the Southern District of New York.
On February 14, the Royal Bank of Scotland and a plaintiff
class, led by New Jersey Carpenters Health Fund and the Boilermaker
Blacksmith Pension trust, reported to the court that the parties
had reached a settlement in principle in an RMBS case in the United
States District Court for the Southern District of New York.
Plaintiffs brought claims under the federal securities laws in
connection with fourteen RMBS securitizations. According to a
statement made by plaintiffs' lead counsel, the settlement
amount is $275 million.
Joint Letter.
Statement.
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