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<title>LexisNexis® Financial Services Litigation News</title>

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<description>Headline Financial Services Litigation News from LexisNexis®</description>

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<title>LexisNexis® Headline Financial Services Litigation News</title>

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<copyright>Copyright 2009</copyright>

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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 1%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Trustee For Bankrupt Subprime Lender Nets $100M Settlement</title>
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<![CDATA[WILMINGTON, Del. - The trustee for a bankrupt subprime lender has preliminarily agreed to a $100 million settlement with JPMorgan Chase Bank N.A., Credit Suisse (USA) Inc., Bear, Stearns &amp; Co. Inc. and Morgan Stanley &amp; Co. Inc. and their subsidiaries for their roles in the lender's bankruptcy, according to a settlement agreement made available Oct. 13 in Delaware federal bankruptcy court (George L. Miller, Chapter 7 Trustee of the bankruptcy estates of American Business Financial Services, Inc. and subsidiaries v. Estate of Anthony J. Santilli, Deceased, et al., No. 05-10203, D. Del. Bkcy.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 1 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 2%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Pa. Federal Judge: Complaint May Not Be Amended; Claim Of Being Overcharged Viable</title>
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<![CDATA[PHILADELPHIA - A Pennsylvania federal judge on Sept. 29 affirmed a bankruptcy court's decision denying a debtor couple's attempt to amend their complaint against their mortgage holders but ruled that their claim that they were overcharged for title insurance was valid (James C. Escher, et al. v. Decision One Mortgage Company, No. 08-4791, Chapter 13, E.D. Pa.; 2009 U.S. Dist. LEXIS 89646). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 2 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 3%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Ohio Bankruptcy Judge: Trustee May Avoid Mortgage Based On Document Defect</title>
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<![CDATA[COLUMBUS, Ohio - An Ohio bankruptcy judge on Sept. 25 ruled that a trustee could avoid the debtor couple's mortgage because the document was defectively registered, rendering the document invalid (Myron N. Terlecky v. Chase Home Finance [In Re: Adina M. Sauer], No. 08-52152, Chapter 7, S.D. Ohio, Eastern Div.; 2009 Bankr. LEXIS 2929). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 3 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 4%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Ohio Federal Judge: Stay Needed; 'Irreparable Harm' To Creditor Could Result</title>
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<![CDATA[CLEVELAND - An Ohio federal judge on Oct. 7 granted a creditor's request for a stay of a bankruptcy order, holding that issues pending in the bankruptcy appeal required keeping the status quo while the appeal was pending and finding that "irreparable harm" could befall the creditor from the order if the stay were not granted (Countrywide Home Loans Inc. v. Daniel M. McDermott, No. 09-82, Chapter 13, N.D. Ohio; 2009 U.S. Dist. LEXIS 93456). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 4 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 5%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Panel Affirms Court's Ruling Against Collection Agency's 'Bona Fide Error' Claim</title>
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<![CDATA[ATLANTA - A federal district court properly ruled that a debt collection agency's failure to notify a debtor in answering machine messages that it was, in fact, a debt collection agency in order to prevent the agency from violating a portion of the Fair Debt Collection Practices Act (FDCPA) is not a bona fide error as the agency claims, an 11th Circuit U.S. Court of Appeals panel ruled Oct. 14 (Brenda Edwards v. Niagara Credit Solutions, Inc., No. 08-17006, 11th Cir.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 5 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 6%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Investor: Credit Card Issuer Concealed Losses Due To Credit Crunch</title>
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<![CDATA[PHILADELPHIA - An investor filed a class action lawsuit on Oct. 14 against what was formerly one of the nation's largest issuers of MasterCard and Visa credit cards to small businesses and professionals, alleging that the company and certain of its executive officers concealed the credit crisis' effects on the business and financial condition of the company (Steamfitters Local 449 Pension Fund v. Advanta Corp., et al., No. 09-4730, E.D. Pa.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 6 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 7%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Capital One Credit Card Holders Sue Company For Breach Of Contract</title>
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<![CDATA[ATLTANTA - Capital One Bank (USA) N.A. cardholders filed a class action lawsuit against the credit card company on Sept. 14 in a Georgia state court, alleging that it violated state law by unilaterally increasing the interest rates on its credit cards (Kevin S. Barker, et al. v. Capital One Bank [USA], N.A., No. 2009CV175096, Ga. Super., Fulton Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 7 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>LifeLock: Experian Can't Show Public Was Deceived; UCL Claims Fail</title>
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<![CDATA[LOS ANGELES - A credit reporting company fails to show that LifeLock Inc. deceived the public in advertising and promoting its consumer identity protection program, the company argues in an Oct 13 brief in California federal court (Experian Information Solutions Inc. v. LifeLock Inc. and DOES 1 through 10, No. 08-165, C.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 8 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 9%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Judge: Investor Failed To Plead Materiality Against Financial Adviser, Officers</title>
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<![CDATA[NEW YORK - A shareholder has failed to properly plead materiality in pleading his claims for alleged federal securities law violations on the part of an asset manager/financial adviser and certain of its executive officers in connection with their concealment of the company's exposure to the subprime mortgage crisis, a federal judge in New York ruled Sept. 22 (Landmen Partners Inc. v. The Blackstone Group L.P., et al., No. 08-3601, S.D. N.Y.; 2009 U.S. Dist. LEXIS 87001; See March 2009, Page 13). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 9 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 10%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Mortgage-Backed Securities Investors' Claims Against Securitizers Dismissed</title>
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<![CDATA[BOSTON - Shareholders in a class action lawsuit against the issuer of mortgage pass-through certificates, eight trusts in which the mortgages were pooled, the underwriters of the certificate offerings and certain executive officers and directors of the issuer lack standing to bring their claims and have failed to properly state their claims for violation of federal securities laws, a federal judge in Massachusetts ruled Sept. 30 (Plumbers' Union Local No. 12 Pension Fund, et al. v. Nomura Asset Acceptance Corporation, et al., No. 08-10446-RGS, D. Mass.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 10 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 11%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Judge: Investor Failed To Plead Demand Futility Under Two-Prong Md. Test</title>
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<![CDATA[COLUMBUS, Ohio - Dismissal of a shareholder derivative securities lawsuit against the former chief executive officer and board of directors of a financial services company is proper because the shareholder failed to plead demand futility as required under Maryland's two-prong test, a federal judge in Ohio ruled Sept. 23 (Russell E. Caston v. Thomas E. Hoaglin, et al., No. 08-0200, S.D. Ohio; 2009 U.S. Dist. LEXIS 87541). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 11 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 12%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Stock Drop Case Against WaMu Fiduciaries Continues; JPMorgan Dismissed</title>
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<![CDATA[SEATTLE - Participants in the Washington Mutual Inc. (WaMu) retirement plan may proceed with the majority of their claims that the plan fiduciaries breached their fiduciary duties under the Employee Retirement Income Security Act by retaining company stock and allowing investment of plan assets in company stock based on WaMu's subprime mortgage loans, a federal judge in Washington ruled Oct. 5 in an order that dismissed JPMorgan Chase and WaMu's former chief executive officer from the lawsuit (In re Washington Mutual, Inc. ERISA Litigation [In re Washington Mutual Inc. Securities, Derivative &amp; ERISA Litigation], Nos. C07-1874, 2:08-md-1919, W.D. Wash.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 12 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Pa. Judge: Trustee Failed To Plead Many Claims Against Financial Institutions</title>
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<![CDATA[PHILADELPHIA - A Pennsylvania state court judge on Sept. 17 ruled that the Chapter 7 trustee of a financial services company has not properly pleaded a number of his claims against the directors and officers of the company or five financial institutions in connection with an alleged scheme to misrepresent the company's involvement in the subprime mortgage lending/credit crisis (George L. Miller, Chapter Trustee of the bankruptcy estate of American Business Financial Services, Inc. and subsidiaries, v. Anthony J. Santilli, et al., No. 1225, Philadelphia Comm. Pls., Civil Trial Div.; See related story in this issue). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 13 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>California AG Sues Friend, Associate Of Madoff For His Role In Ponzi Scheme</title>
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<![CDATA[LOS ANGELES - Long-time friend and business associate of Bernard L. Madoff, Stanley Chais violated California law in connection with his role as an investment adviser and feeder funds operator in Madoff's massive Ponzi scheme, state Attorney General Edmund G. Brown argues in a complaint filed in California court and made available on Sept. 21 (The People of the State of California v. Stanley Chais, Calif. Super., Los Angeles Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 14 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Madoff Trustee: Investor Failed To Show He Wasn't Part Of Ponzi Scheme</title>
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<![CDATA[NEW YORK - Investors in Bernard L. Madoff Investments Securities LLC (BLMIS) have failed to show that they were victims of Madoff's multi-billion dollar Ponzi scheme, and their motion to dismiss the adversary proceeding against them should be denied, the trustee for the BLMIS liquidation proceedings argues in a Sept. 30 opposition brief (In re: Bernard L. Madoff Investment Securities LLC [Irving H. Picard v. Jeffrey M. Picower, et al.], No 08-01789 (BRL), S.D. N.Y. Bkcy.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 15 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 16%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Bankruptcy Trustee Sues Madoff's Brother, Sons, Niece To Recover Nearly $200M</title>
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<![CDATA[NEW YORK - The trustee for the Bernard L. Madoff Investment Securities LLC (BLMIS) liquidation proceedings sued Madoff's brother, sons and niece on Oct. 2, claiming that the defendants used BLMIS's finances "as if it were the family piggy bank" and seeking to recover nearly $200 million from "preferential payments, fraudulent transfers, and fraudulent conveyances they received" (Irving H. Picard v. Peter B. Madoff, et al. [In re: Bernard L. Madoff], No. 09-1503, S.D. N.Y. Bkcy.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 16 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Madoff Victims Sue SEC For Failure To Discover Ponzi Scheme</title>
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<![CDATA[NEW YORK - Two victims of Bernard L. Madoff's multibillion-dollar Ponzi scheme filed a lawsuit against the Securities and Exchange Commission on Oct. 14, alleging that the SEC was negligent in its investigations and examinations of Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC (Phyllis Molchatsky and Steven Schneider, M.D. v. United States of America, No. n/a, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 17 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Shareholders Failed To Plead Securities Claims With Particularity, Judge Rules</title>
<description>
<![CDATA[ATLANTA - Shareholders failed to show that SunTrust Banks Inc. and its subsidiary violated federal securities laws by misrepresenting the financial status of certain auction-rate securities (ARSs) SunTrust was offering, a federal judge in Georgia ruled Sept. 24 in dismissing the action with prejudice (Martin Zisholtz v. SunTrust Banks, Inc., et al., No. 08-1287, N.D. Ga.; 20009 U.S. Dist. LEXIS 88465). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 18 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 19%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Shareholders Failed To Plead Claims Under Delaware 'Carve-Outs,' Judge Rules</title>
<description>
<![CDATA[MEMPHIS, Tenn. - Dismissal of shareholders' state law claims against investment companies, their subsidiaries, PricewaterhouseCoopers (PwC) and others is proper because the claims are precluded under the Securities Litigation Uniform Standards Act's (SLUSA) "Delaware Carve-Outs," a federal judge in Tennessee ruled Sept. 23 in dismissing the class action with prejudice (Richard A. Atkinson, M.D., et al. v. Morgan Asset Management, Inc., et al., No. 08-2694, W.D. Tenn.; 2009 U.S. Dist. LEXIS 93371). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 19 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-8 LexisNexis Financial Serv. Lit. Rep. 20%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Ala. Federal Judge: Ruling On Debtor's Vehicle Allowance Not Based On Evidence</title>
<description>
<![CDATA[MONTGOMERY, Ala. - An Alabama federal judge on Sept. 24 vacated a bankruptcy court's decision denying a debtor couple the full amount of the vehicle allowance under the Bankruptcy Code, saying that the ruling was not based on detailed reasoning tailored to the overall factual circumstances of the case (Samuel A. Spears, et al. v. Curtis C. Reding [In Re: Samuel A. Spears, et al], No. 09-31, Chapter 13, M.D. Ala.; 2009 U.S. Dist. LEXIS 88140). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 20 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>BoA Denies Any Wrongdoing In Issuance Of Merrill Executive Compensation Bonuses</title>
<description>
<![CDATA[NEW YORK - Bank of America Corp. (BoA) on Sept. 25 filed an answer to a complaint by the Securities and Exchange Commission alleging that BoA violated federal securities laws by misrepresenting the financial status of Merrill Lynch &amp; Co. Inc. before its acquisition of the company and its subsequent payment of year-end executive bonuses and compensation, contending that disclosures were made in the media stating that year-end bonuses for 2008 were going to be paid to Merrill executives (Securities and Exchange Commission v. Bank of America Corp., No. 09-6829, S.D. N.Y.; See September 2009, Page 30). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 21 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Plaintiffs File Consolidated Complaint In Merrill Lynch Executive Bonuses Suit</title>
<description>
<![CDATA[NEW YORK - The lead plaintiffs in a class action lawsuit against Bank of America (BoA), certain of its executive officers, its board of directors, Merrill Lynch and certain underwriters filed a consolidated amended complaint on Sept. 25, alleging securities fraud in connection with BoA's payment of executive bonuses to Merrill officers and directors after its acquisition of Merrill (In re Bank of America Corp. Securities, Derivative, and ERISA Litigation, No. 09 MDL 2058 [DC], S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 22 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Arbitration Service Provider Accused Of Bias, Fraud And Conflict Of Interest</title>
<description>
<![CDATA[LOS ANGELES - A company representing itself as the "leading forum for consumer arbitrations" was sued Sept. 1 as part of a class action lawsuit that accused the company of bias and misleading consumers on its impartiality (Anthony Magnone, et al. v. Accretive LLC, et al., No. CV09-6375, C.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 23 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge Dismisses Lawsuit, Finds Complaint Lacks Details About Mortgage Loan</title>
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<![CDATA[SAN DIEGO - A California couple's lawsuit alleging that their mortgage lender violated the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA) and the Home Ownership Equity Protection Act (HOEPA) was dismissed without prejudice by a federal judge on Sept. 21 after finding that the complaint contained little factual information about the contents of the loan documentation and the loan's interest rate (Eric Tasaranta, et al. v. Homecomings Financial LLC, et al., No. 09-cv1666 WQH, S.D. Calif.; 2009 U.S. Dist. LEXIS 86155). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 24 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Lender Who Made No Contact With Homebuyers Can Face TILA Claims</title>
<description>
<![CDATA[SAN JOSE, Calif. - A lender who helped Spanish-speaking homebuyers by providing loans for down payments but who did not interact or communicate with them directly can still be found liable for violating the Truth in Lending Act (TILA) and the Home Ownership Equity Protection Act (HOEPA), a federal magistrate judge ruled Oct. 5, because the man did not provide any disclosures to the plaintiffs about the loans (Maria A. Garvin v. Linda Tran, et al., No. C 07-1571 RS, N.D. Calif.; 2009 U.S. Dist. LEXIS 92704). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 25 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge Finds Woman's TILA, HOEPA Claims Untimely, Remands State Law Claims</title>
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<![CDATA[DETROIT - A federal judge on Oct. 9 dismissed as untimely a woman's claims that her lender violated the Truth in Lending Act (TILA) and the Home Ownership Equity Protection Act (HOEPA) after finding that she was unable to prove that the claims were subject to equitable tolling and remanded her state law claims after declining to exercise supplemental jurisdiction (Shirley Moore v. OneWest Bank F.S.B., No. 09-CV-13342, E.D. Mich.; 2009 U.S. Dist. LEXIS 94464). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 26 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>California Federal Judge: Debtor Lacks Standing To Pursue Claim Against Lenders</title>
<description>
<![CDATA[DETROIT - A California federal judge on Sept. 24 ruled that a debtor could not proceed with her case against mortgage lenders while her bankruptcy was pending but said the debtor had 30 days to have the trustee substituted as the plaintiff in the case (Baljit Kaur v. ETS Services LLC, et al., No. 09-01497, Chapter 7, E.D. Calif.; 2009 U.S. Dist. LEXIS 88030). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 27 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>9th Circuit Upholds Summary Judgment Award To Mortgage Lender, Servicer</title>
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<![CDATA[SEATTLE - The Ninth Circuit U.S. Court of Appeals on Sept. 24 affirmed a district judge's order awarding summary judgment to a mortgage lender and a loan servicer in a wrongful foreclosure case after finding that the judge did not err in ruling that the defendants had a right to foreclose on a Washington couple's property because they defaulted on the loan (Tony Henderson, et al. v. GMAC Mortgage Corp., et al., No. 08-35382, 9th Cir.; 2009 U.S. App. LEXIS 21153). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 28 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Proposed Class' Civil Rights, Fair Housing Act Claims Are Untimely, Judge Finds</title>
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<![CDATA[SAN FRANCISCO - Claims brought by a man seeking damages under the Civil Rights Act and the Fair Housing Act (FHA) based on allegations that three mortgage lenders charged and enforced higher interest rates on adjustable-rate mortgage (ARM) loans provided to minorities were dismissed without prejudice by a federal judge on Oct. 6 after she found that the causes of action were untimely because the man's loan was obtained in 2004 (Anthony M. Robinson v. Argent Mortgage Co. LLC, et al., No. C 09-2075 MMC, N.D. Calif.; 2009 U.S. Dist. LEXIS 93436). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 29 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>2nd Circuit Upholds Ruling Finding Mortgage Broker's Claims Preempted By FCRA</title>
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<![CDATA[NEW YORK - A federal judge's ruling finding a mortgage brokerage company's claims that a number of credit bureaus misappropriated trade secrets by allowing other mortgage lenders to purchase "prescreened" consumer reports containing trigger leads were preempted by the Fair Credit Reporting Act (FCRA) was upheld by the Second Circuit U.S. Court of Appeals on Oct. 5 after it found that the judge properly applied preemption principles under the statute (Premium Mortgage Corp. v. Equifax Inc., et al., No. 08-5317-cv, 2nd Cir.; 2009 U.S. App. LEXIS 21752). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 30 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Law Firm Acting As Substitute Trustee Can Be Liable Under FDCPA</title>
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<![CDATA[WASHINGTON, D.C. - A law firm acting as a substitute trustee to a District of Columbia woman's mortgage can be found liable for violating the Fair Debt Collection Practices Act (FDCPA), a federal judge ruled Sept. 28 in denying the firm's motion to dismiss (Sandra Muldrow v. EMC Mortgage Corp., et al., No. 08-1771, D. D.C.; 2009 U.S. Dist. LEXIS 89028). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 31 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge Preliminarily Approves $19.92 Million Settlement For RESPA Class Action</title>
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<![CDATA[NEW YORK - A federal judge on Sept. 24 preliminarily approved a settlement agreement in which J.P. Morgan Chase Bank would provide a maximum of $19.92 million in cash refunds to members of a class of individuals who allege that the lender violated the Real Estate Settlement Procedures Act (RESPA) when it charged them a post-closing fee with the origination of their residential mortgage loans (Sylvia Cohen v. J.P. Morgan Chase &amp; Co., et al., No. 04 ?CV-4098, E.D. N.Y.; 2009 U.S. Dist. LEXIS 88241). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 32 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Citibank Sues Morgan Stanley Over $250M Breach Of CDS Agreement</title>
<description>
<![CDATA[NEW YORK - Citibank N.A. sued Morgan Stanley &amp; Co. International PLC on Sept. 25 in a New York federal court, alleging that Morgan Stanley has failed to pay Citibank nearly $250 million as part of a credit default swap (CDS) agreement (Citibank, N.A. v. Morgan Stanley &amp; Co., International, PLC, No. 09-8197, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-8 LexisNexis Financial Serv. Lit. Rep. 33 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Report: SEC Failed To Take 'Necessary And Basic Steps' To Investigate Madoff</title>
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<![CDATA[WASHINGTON, D.C. - The Securities and Exchange Commission received numerous complaints over a 16-year period that should have raised a number of red flags concerning the investment practices of convicted Ponzi scheme mastermind Bernard L. Madoff but failed to take "necessary and basic steps to determine if Madoff was misrepresenting his trading," according to a report released Sept. 4 by the Office of the Inspector General (OIG). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 1 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Insurance Companies Reach Partial Settlement With Madoff Victims</title>
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<![CDATA[NEW YORK - Two insurance companies have agreed to settle claims in a class action lawsuit filed by policy holders whose investment accounts were invested by the companies in Bernard L. Madoff Investment Securities (BLMIS) and its affiliates, according to court papers filed in a New York federal court on Sept. 1 (In re Tremont Securities Law, State Law and Insurance Litigation, No. 08-Civ-11117(TPG), S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 2 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Massachusetts Reaches $8M Settlement With Madoff Feeder Fund</title>
<description>
<![CDATA[BOSTON - Fairfield Greenwich Advisors LLC and its subsidiary (collectively, Fairfield) have agreed to reimburse investors up to $8 million for losses sustained through its investment of their funds in Bernard L. Madoff Investment Securities LLC (BLMIS), according to a Sept. 8 consent order filed by the Commonwealth of Massachusetts Securities Division (In the Matter of Fairfield Greenwich Advisors LLC, et al., No. 2009-0028, Mass., Securities Div.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 3 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<link>http://www.mealeysonline.com/mealey/ppv/articleSearch.do?searchTerm=%22%201-7 LexisNexis Financial Serv. Lit. Rep. 4%20(2009)%20%22&amp;pageLimit=10&amp;pageNumber=0&amp;publication=All+Mealey+Publications%3BMEALEY%3BMEALEY&amp;relativeDateValue=NONE&amp;fromDate=&amp;toDate=&amp;loc=mealeysrss</link>
<title>Judge: Investors Properly Pleaded Some Claims Against Madoff's Brother</title>
<description>
<![CDATA[NEWARK, N.J. - Although shareholders have failed to show that the brother of convicted Ponzi scheme operator Bernard L. Madoff personally issued any actionable misrepresentations in connection with the Ponzi scheme, they have properly shown that he had a fiduciary duty to disclose the fraud to the them and did not, a federal judge in New Jersey ruled Sept. 9 in dismissing an action in part and denying dismissal in part (The Lautenberg Foundation, et al. v. Peter Madoff, No. 09-816, D. N.J.; 2009 U.S. Dist. LEXIS 82084). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 4 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Investors: Financial Advisors Misrepresented Security Of Madoff Funds</title>
<description>
<![CDATA[NEW YORK - Investors filed a class action lawsuit against two investment advisors and certain of the executive officers and directors on Aug. 31, claiming that the defendants violated federal securities laws by misrepresenting the financial security of their investments in funds allegedly associated with the Bernard L. Madoff Ponzi scheme (Plumbers &amp; Steamfitters Local 267 Pension Fund, et al. v. J.P. Jeanneret Associates, Inc., et al., No. 09-7584, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 5 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Federal Judge Rules That Merrill Lynch Investors Failed To State Claims</title>
<description>
<![CDATA[PHILADELPHIA - A Pennsylvania federal judge on Aug. 20 dismissed a shareholder class action lawsuit against Merrill Lynch &amp; Co. Inc. and certain of its subsidiaries, ruling that the shareholders have failed to properly state a claim for relief (Luminent Mortgage Capital, Inc., et al. v. Merrill Lynch &amp; Co., Inc., et al., No. 07-5423, E.D. Pa.; 2009 U.S. Dist. LEXIS 74382). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 6 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Subprime Class Action Dismissed Due To Investor's 'Puzzle-Style' Pleading</title>
<description>
<![CDATA[LOS ANGELES - Dismissal of a shareholder's second amended consolidated class action complaint against a financial services company and certain of its executive officers and directors is proper because the shareholder used a confusing "puzzle-style" pleading in making its claims for alleged violations of the federal securities laws, a federal judge in California ruled Aug. 21 (In re Downey Securities Litigation, No. 08-3261, C.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 7 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>8th Circuit: Court's Dismissal Of Shareholder Class Action Lawsuit Was Proper</title>
<description>
<![CDATA[ST. LOUIS - A federal district court did not err in dismissing a shareholder's class action lawsuit against a subprime mortgage lender and certain of its executive officers for failure to plead falsity and scienter with regard to their alleged misrepresentations concerning the lender's exposure to the subprime mortgage lending crisis, the Eighth Circuit U.S. Court of Appeals ruled Sept. 1 (In re: 2007 Novastar Financial Inc., Securities Litigation, No. 08-2452, 8th Cir.; 2009 U.S. App. LEXIS 19634; See June 2008, Page 5). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 8 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge Dismisses Bulk Of Claims Against Ratings Agencies For Subprime Losses</title>
<description>
<![CDATA[NEW YORK - A federal judge in New York on Sept. 2 dismissed the bulk of a 32-count first amended class action complaint filed by institutional investors against an investment bank and three rating agencies, ruling that the investors lack standing to bring their claims and have failed to properly show the existence of any enforceable contract between the parties (Abu Dhabi Commercial Bank, et al. v. Morgan Stanley &amp; Co., Inc., et al., No. 08-7508, S.D. N.Y.; 2009 U.S. Dist. LEXIS 79607). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 9 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Federal Reserve Board Must Provide Documents To Bloomberg Under FOIA</title>
<description>
<![CDATA[NEW YORK - The Freedom of Information Act (FOIA) compels the board of governors of the Federal Reserve System to search records held at the Federal Reserve Bank of New York (FRBNY), a federal judge in New York ruled Aug. 24, adding that exemptions under the FOIA do not pertain to records within the board's possession (Bloomberg, L.P. v. Board of Governors of the Federal Reserve System, No. 08-9595, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 10 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>CashCall, California AG Settle Misleading Lending Practices Lawsuit</title>
<description>
<![CDATA[SACRAMENTO, Calif. - Lender CashCall Inc. has agreed to stop using misleading advertising tactics in its issuance and marketing of consumer loans and has agreed to pay $1 million in fines, according to a final judgment and permanent injunction issued Aug. 24 by a California state court judge (The People of the State of California v. CashCall, Inc., No. BC420115, Calif. Super., Los Angeles Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 11 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge Approves Settlement In ERISA Stock-Drop Case Against REIT</title>
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<![CDATA[SANTA ANA, Calif. - A federal judge in California on Sept. 14 approved a settlement providing that Impac Mortgage Holdings Inc. must pay common stock valued at no less than $300,000 to 400 participants in the company's 401(k) plan in settlement of the participants' claims that the company breached its ERISA-based fiduciary duties related to the plan's investment in company stock when the company's business was faltering as a result of the subprime mortgage crisis (Sharon Page, et al. v. Impac Mortgage Holdings Inc., et al., No. 07-1447, C.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 12 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Fiduciary Duty Claims Against Citigroup, 401(k) Fiduciaries Are Dismissed</title>
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<![CDATA[NEW YORK - Citigroup and its officers and directors did not breach their fiduciary duties under the Employee Retirement Income Security Act by continuing to offer company stock as an investment option in its current and former employees' 401(k) plans, even though the fiduciaries knew that the company would suffer huge losses from its subprime-mortgage-related investments, a federal judge in New York ruled Aug. 31 in dismissing the participants' consolidated class action complaint (In re Citigroup ERISA Litigation, No. 07 Civ. 9790, S.D. N.Y.; 2009 U.S. Dist. LEXIS 78055). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 13 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Investors Fail To Show Presuit Demand Wasn't Necessary, Judge Rules</title>
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<![CDATA[NEW YORK - Dismissal of a shareholder derivative lawsuit against Citigroup Inc. and certain of its current and former executive officers and directors is warranted, a federal judge in New York ruled Aug. 25, because shareholders have failed to show that they were not required to make presuit demand on the Citigroup board of directors before filing the lawsuit (In re Citigroup Inc. Shareholder Derivative Litigation, No. 07 Civ. 9841, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 14 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>6th Circuit: Trustee Cannot Avoid Mortgage Based On Wording Of Documents</title>
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<![CDATA[CINCINNATI - A panel of the Sixth Circuit U.S. Court of Appeals on Aug. 25 affirmed a district court's ruling that a trustee could not avoid the mortgage on the debtor's property based on a difference between the recorded mortgage and the deed with regard to the wording describing the property (Argent Mortgage Company v. William Todd Drown [In Re: Michelle Monick Bunn], No. 08-4508, Chapter 7, 6th Cir.; 2009 U.S. App. LEXIS 19081). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 15 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>W.Va. Federal Judge Affirms Debtor's Deductions For Loan Payments On Vehicles</title>
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<![CDATA[WHEELING, W. Va. - A West Virginia federal judge on Aug. 27 affirmed a bankruptcy court's ruling that a debtor was entitled to take deductions on three vehicles, including one on which she no longer made monthly payments, because the statutory language of the Bankruptcy Code permitted it (Helen M. Morris v. Susan Kay Quigley [In Re: Susan Kay Quigley], No. 08-126, Chapter 13, N.D. W. Va.; 2009 U.S. Dist. LEXIS 76524). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 16 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Indiana Federal Judge: Statute 'Clear'; Constructive Notice Of Mortgage Given</title>
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<![CDATA[HAMMOND, Ind.-</title>
<description>
<![CDATA[An Indiana federal judge on Sept. 10 reversed a bankruptcy court and ruled that a trustee could not avoid a debtor's mortgage because the state statute governing the issue lent itself to only one interpretation; namely, that constructive notice of the mortgage had been given (National City Mortgage Company v. Stacia L. Yoon [In Re:Charles Adam Hershmann], No. 09-134, Chapter 7, N.D. Ind.; 2009 U.S. Dist. LEXIS 82439). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 17 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Puerto Rico Federal Judge: Trustee Vested With Power To Avoid Mortgage</title>
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<![CDATA[SAN JUAN, Puerto Rico - A Puerto Rico federal judge on Sept. 10 affirmed a bankruptcy court's ruling that gave a trustee the power to avoid the debtor's mortgage, finding that the trustee is automatically vested with such power when a bankruptcy is filed (Doral Mortgage Corporation v. Wilfredo Segarra-Miranda, No. 08-1868, Chapter 7, D. Puerto Rico; 2009 U.S. Dist. LEXIS 82453). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 18 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>South Dakota Federal Judge: Debtor's Emotional Distress Claim Against Bank Valid</title>
<description>
<![CDATA[PIERRE, S.D. - A South Dakota federal judge on Sept. 4 ruled that a debtor could pursue claims for intentional infliction of emotional distress against the bank that sold her home while her bankruptcy, which was eventually discharged, was proceeding (Rita E. Fix v. First State Bank, No. 06-3027, Chapter 7, D. S.D.; 2009 U.S. Dist. LEXIS 80731). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 19 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Chrysler Group Says It Will Expand Accepted Product Liability Claims</title>
<description>
<![CDATA[AUBURN HILLS, Mich. - Chrysler Group LLC announced Aug. 27 that the company will accept product liability claims on vehicles manufactured by Chrysler LLC - now OldCarco LLC - before June 10, 2009, and involved in accidents on or after that date. View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 20 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Investor Failed To Plead Scienter, Actionable Misstatement</title>
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<![CDATA[NEW YORK - An investor has failed to show that a financial service firm and two of its subsidiaries acted with scienter or issued an actionable misstatement in violation of federal securities laws, a federal judge in New York ruled Sept. 17 in dismissing the investor's amended complaint (Defer LP v. Raymond James Financial, Inc., et al., No. 08-3449, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Market Manipulation In Sale Of ARSs Not Properly Pleaded, Judge Rules</title>
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<![CDATA[NEW YORK - A lead plaintiff in a securities class action lawsuit against Citigroup Inc., Citigroup Global Markets Inc. (CGMI) and Smith Barney for alleged market manipulation in connection with their sale of auction-rate securities (ARSs) has failed to properly plead his state and federal securities law claims, a New York federal judge ruled in an opinion made available on Sept. 12 (In re Citigroup Auction-Rate Securities Litigation [In re Citigroup Auction Rate Securities Litigation], No. 08 Civ. 3095 [LTS][FM] [09 md 2043 (LTS)]; S.D. N.Y.; 2009 U.S. Dist. LEXIS 83046). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Judge: Plaintiff Failed To Make Demand On Board Prior To Bringing Action</title>
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<![CDATA[NEW YORK - A shareholder has failed to properly make a demand on the Citigroup Inc. board of directors pursuant to Delaware federal court precedent before bringing their derivative lawsuit alleging that certain executive officers and members of the board misrepresented the company's financial status with regard to its participation in the auction-rate securities market, a New York federal judge ruled Sept. 10 (Louisiana Municipal Police Employees Retirement System v. Vikram Pandit, et al., No. 08-7389, S.D. N.Y.; 2009 U.S. Dist. LEXIS 82308). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Borrower Failed To Show That Lender Violated Federal Lending Laws, Judge Rules</title>
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<![CDATA[SAN FRANCISCO - Borrowers have failed to properly state a claim showing that the trustee of deed on their property, which was used as collateral for an adjustable-rate second mortgage loan prior to their lender's initiation of foreclosure proceedings, violated federal lending laws, a federal judge in California ruled Sept. 8 in dismissing the borrowers' pro se complaint with leave to amend (Carlos Romulo, et al. v. Optima Funding, Inc., et al., No. 09-3296, N.D. Calif.; 2009 U.S. Dist. LEXIS 81161). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 24 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Bank Of America Settlement Would Be Unfair, Unreasonable, Inadequate</title>
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<![CDATA[NEW YORK - Denial of the Securities and Exchange Commission's proposed settlement with Bank of America Corp. over its multibillion dollar merger deal with Merrill Lynch &amp; Co. Inc. and subsequent payment of executive year-end bonuses is proper because the proposed settlement is unfair, unreasonable and inadequate, a federal judge in New York ruled Sept. 14 (Securities and Exchange Commission v. Bank of America Corp., No. 09-6829, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 25 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>9th Circuit Reverses Hardship Ruling On Student Loan Debt For 'Lack Of Clarity'</title>
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<![CDATA[SAN FRANCISCO - A panel of the Ninth Circuit U.S. Court of Appeals on Aug. 26 reversed a district court's ruling that ordered a debtor to pay her student loan debt despite carrying the burden of proof that doing so would pose an undue hardship. The Ninth Circuit remanded the matter to the U.S. Bankruptcy Court for the District of Arizona for a reanalysis of its decision based on a "lack of clarity" (In The Matter of Cheryl Lee Craig v. Educational Credit Management Corporation, No. 08-15451, Chapter 7, 9th Cir.; 2009 U.S. App. LEXIS 19123). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 26 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>California Panel Reduces Punitive Award In Consumer Credit-Reporting Case</title>
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<![CDATA[RIVERSIDE, Calif. - A California appellate panel on Sept. 2 found that evidence supported a jury's decision to award punitive damages against a bank that repeatedly failed to correct an error in a couple's credit report, but the panel found the award constitutionally excessive and reduced it from $750,000 to $150,000 (Reed Fisher, et al. v. Wells Fargo Bank, No. E043771, Calif. App., 4th Dist.; 2009 Cal. App. Unpub. LEXIS 7131). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 27 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>7th Circuit Finds Retailer Did Not Violate Lending Law By Not Disclosing Card's Terms</title>
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<![CDATA[CHICAGO - A federal judge's decision to deny certification of a class action lawsuit accusing discount retailer Target Corp. of violating the Truth in Lending Act (TILA) was proper, a federal appellate panel ruled Aug. 31 (Christine Muro v. Target Corp., et al., No. 08-1256, 7th Cir.; 2009 U.S. App. LEXIS 19486). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 28 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Claim Not Stated; Debtor Omitted Case From Bankruptcy Schedules</title>
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<![CDATA[SACRAMENTO, Calif. - A California federal judge on Aug. 27 dismissed a lawsuit brought by a debtor against the lender that held the mortgage on his property, ruling that the debtor could not proceed because he omitted the lawsuit from his bankruptcy schedules (George Thomas Wilkerson v. World Savings and Loan Association, No. 08-2168, Chapter 13, E.D. Calif.; 2009 U.S. LEXIS 76539). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 29 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Michigan Federal Judge: Debtor Couple's Claim Fails; Lender's Actions Proper</title>
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<![CDATA[DETROIT - A Michigan federal judge on Sept. 9 dismissed a debtor couple's lawsuit against the lender that attempted to foreclose on their home before their bankruptcy filing only to have a mortgage broker reassign the couple's mortgage a second time when they refinanced their loan (Phillip Davis, et al. v. Countrywide Financial Corporation, No. 09-10228, Chapter 13, E.D. Mich.; Southern Div.; 2009 U.S. Dist. LEXIS 81746). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 30 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Borrower Lacks Standing To Bring Claims, Fails To Plead With Particularity, Judge Rules</title>
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<![CDATA[SAN JOSE, Calif. - A borrower lacks standing to bring claims against her lender for allegedly failing to perform proper verification of her income prior to providing her with an adjustable-rate mortgage (ARM) loan, a federal judge in California ruled Aug. 20 in dismissing the borrower's amended complaint (Carmella Wong v. First Magnus Financial Corp., et al., No. 09-01612 RMW, N.D. Calif.; 2009 U.S. Dist. LEXIS 74113). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 31 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Borrower Failed To Attach Proposed Amended Complaint To Motion, Judge Rules</title>
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<![CDATA[BALTIMORE - Denial of a borrower's motion to reopen an action against her lender for alleged state and federal lending law violations in connection with her purchase of an adjustable-rate mortgage loan to add defendants is proper because the borrower failed to attach a copy of the proposed amended complaint to her motion, a Maryland federal judge ruled Aug. 19 (Paula Rush v. American Home Mortgage, Inc., et al., No. WMN-07-854, D. Md.; 2009 U.S Dist. LEXIS 74129). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 32 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Man's Predatory Lending Claim Dismissed By Federal Judge</title>
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<![CDATA[DETROIT - A federal judge on Sept. 11 dismissed a Michigan man's predatory lending claim against Bank of America because the state does not recognize such a claim but allowed the plaintiff to amend his complaint to specifically explain his fraud claims and his allegation that the lender violated the Truth in Lending Act (TILA) (Brian King v. Bank of America Corp., et al., No. 09-12481, E.D. Mich.; 2009 U.S. Dist. LEXIS 82799). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 33 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Federal Judge Says Couple's Claims Against Wachovia Are Preempted</title>
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<![CDATA[SAN FRANCISCO - A California couple's state law claims that Wachovia engaged in predatory lending practices by failing to inform them of the terms of their loans and by misleading them in regard to their ability to pay the monthly amounts due on the loans are preempted by the Home Owners' Loan Act (HOLA) because the allegations pertain to the financial institution's lending practices, a federal judge ruled Sept. 2 (John Naulty, et al. v. Greenpoint Mortgage Funding Inc., et al., Nos. C 09-1542 MHP, C 09-1545MHP, N.D. Calif.; 2009 U.S. Dist. LEXIS 79250). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Decertification Of Class Action Against Loan Company Reversed</title>
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<![CDATA[COLUMBIA, S.C. - The South Carolina Supreme Court on Aug. 31 reversed the decertification of a class action lawsuit that accused a loan company of violating the state's attorney preference statute (Lois King, et al. v. American General Finance Inc., No. 26710, S.C. Sup.; 2009 S.C. LEXIS 438). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>5th Circuit: Negative Equity Equals Security Interest; Debt Cannot Be Bifurcated</title>
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<![CDATA[NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on Sept .8 ruled that negative equity constituted a "purchase money security interest" under Texas law and that the Bankruptcy Code's hanging paragraph prevented bifurcation of a debt (Ford Motor Credit Company v. Rebecca Ann Dale [In The Mater of Rebecca Ann Dale], No. 08-20583, Chapter 13, 5th Cir.; 2009 U.S. App. LEXIS 20065). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 36 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Shareholder: Bank, Analyst Firms Misrepresented Bank's Loan Loss Provision</title>
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<![CDATA[LOS ANGELES - A shareholder filed a class action lawsuit against a bank holding company, certain of its executive officers and two analyst firms on Sept. 8, claiming that the defendants misrepresented the bank's loss provisions (William Jurkowitz v. Pacific Capital Bancorp, et al., No. 09-6501, C.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 37 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Shareholder Alleges That Bank, Officers Concealed Loan Losses</title>
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<![CDATA[SAN FRANCISCO - A bank holding company and two of its former executive officers concealed millions of dollars in bad loan losses in violation of the federal securities laws, a shareholder alleges in a class action complaint filed in California federal court and made available on Sept. 15 (Guohua Zhu v. UCBH Holdings, Inc., et al., No. 09-4208, N.D. Calif.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-7 LexisNexis Financial Serv. Lit. Rep. 38 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Homeowners Failed To State Claims Against Lenders, Loan Servicers, Judge Rules</title>
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<![CDATA[SAN FRANCISCO - A federal judge in California on July 27 granted seven motions to dismiss filed by lenders and loan servicers who are alleged to have engaged in a scheme to solicit high-risk adjustable-rate mortgages (ARMs) to elderly, minority and financially distressed homeowners, ruling that the homeowners involved in the massive class action lawsuit have failed to properly state their claims (Mark Biggins, et al. v. Wells Fargo &amp; Co., et al., No 09-01272, N.D. Calif.; 2009 U.S. Dist. LEXIS 64620). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Judge: Borrowers Failed To State Claims, File Within Statute Of Limitations</title>
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<![CDATA[FRESNO, Calif. - Borrowers have failed to properly state a number of claims or make the claims within the statute of limitations in alleging that their lender violated state and federal lending, credit and business laws when it failed to provide them with the necessary closing documents on an adjustable-rate mortgage loan they purchased, a federal judge in California ruled Aug. 14 (Felipe Santos Jr., et al. v. Countrywide Home Loans, et al., No. 09-0912, E.D. Calif.; 2009 U.S. Dist. LEXIS 71736). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Judge Dismisses With Prejudice Couple's TILA, RESPA Lawsuit, Finds Claims Untimely</title>
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<![CDATA[SEATTLE - A federal judge on July 14 dismissed with prejudice a couple's lawsuit seeking rescission from an adjustable-rate mortgage (ARM) and monetary damages based on the defendants' alleged violation of the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA) and Washington's Consumer Protection Act (CPA) after finding that the plaintiffs' claims were barred by the statutes' applicable limitations period (Victor Kotok, et al. v. Homecomings Financial LLC, et al., No. C09-662 RSM, W.D. Wash.; 2009 U.S. Dist. LEXIS 61669). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Federal Judge Finds Claims In Man's Mortgage Lending Lawsuit Are Preempted</title>
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<![CDATA[SAN DIEGO - A federal judge on Aug. 4 dismissed with prejudice a California man's lawsuit alleging that Wachovia Mortgage Corp. fraudulently induced him to obtain an adjustable-rate mortgage to refinance the loan on his home, saying the plaintiff's claims are preempted by the Home Owners' Loan Act of 1933 (HOLA) (Juan Carlos Rivera v. Wachovia Bank, et al., No. 09 CV 0433 JM, S.D. Calif.; 2009 U.S. Dist. LEXIS 68391). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Virginia Couple's RESPA Lawsuit Barred By Statute Of Limitations, Judge Rules</title>
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<![CDATA[RICHMOND, Va. - A federal judge on Aug. 12 dismissed a Virginia couple's claims that their mortgage lender's payment of a yield spread premium to a mortgage brokerage firm in September 2006 violated the Real Estate Settlement Procedures Act (RESPA) after finding that the claim was barred by the statute's one-year limitations period (Edward Tabler, et al. v. Litton Loan Servicing LP, et al., No. 09-CV-146, E.D. Va.; 2009 U.S. Dist. LEXIS 70768). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 5 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Woman's Rescission Request Under TILA Is Timely; Damages Claims Are Not</title>
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<![CDATA[DETROIT - A Michigan woman's request for rescission from a 30-year adjustable-rate mortgage (ARM) she obtained in May 2006 based on the lender's failure to provide her with a copy of the notice of the right to cancel the loan is timely, a federal judge ruled Aug. 19, but the judge dismissed her claims for statutory damages under the Truth in Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA) as barred by the statutes' one-year limitations periods (Lisa Lancaster v. Countrywide Home Loans Inc., No. 09-CV-12198, E.D. Mich.; 2009 U.S. Dist. LEXIS 73392). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 6 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Madoff Trustee Seeks To Recover Nearly $45M From Madoff's Wife</title>
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<![CDATA[NEW YORK - The trustee for the consolidated liquidation proceedings of Bernard L. Madoff Investment Securities LLC (BLMIS) sued Madoff's wife on July 29, seeking to recover nearly $45 million in funds he says Ruth Madoff received from her husband's involvement in a massive Ponzi scheme (Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC [In re Bernard L. Madoff], [Irving H. Picard v. Ruth Madoff], No. 08-01789, S.D. N.Y. Bkcy.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 7 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Southern District Of New York Named Transferee Court For Madoff Feeder Fund Actions</title>
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<![CDATA[WASHINGTON, D.C. - The Judicial Panel on Multidistrict Litigation (JPMDL) on Aug. 11 granted a motion for coordinated or consolidated pretrial proceedings of four shareholder class action lawsuits filed by four investment funds alleged to have violated federal securities laws with regard to their involvement in the Bernard L. Madoff Ponzi scheme (In re: Meridian Funds Group Securities &amp; Employment Retirement Income Security Act [ERISA] Litigation, MDL No. 2082, JPMDL). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 8 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>JPMDL Consolidates 3 Madoff Feeder Fund Lawsuits</title>
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<![CDATA[WASHINGTON, D.C. - Three lawsuits against feeder funds associated with the Bernard L. Madoff Ponzi scheme will be consolidated for pretrial proceedings in the U.S. District Court for the Southern District of Florida as the host court for the actions, the Judicial Panel on Multidistrict Litigation ruled Aug. 11 (In re: Optimal Strategic U.S. Equity Fund Securities Litigation, MDL No. 2073, JPMDL). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 9 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Insurers Sued By Madoff Victims Seeking To Recover Losses</title>
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<![CDATA[CAMDEN, N.J. - A company on July 31 sued four insurance companies with which it has policies, alleging that the insurers have failed to provide the company with payment on the policies for theft loss as a result of the company's losses as part of the Bernard L. Madoff Investment Securities (BLMIS) Ponzi scheme (Bleznak Black LLC v. Allied World National Assurance Co., et al., No. L-3663-09, N.J. Super., Camden Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 10 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Policyholders Sue AIG To Recover Madoff Losses Under Homeowners Insurance Policy</title>
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<![CDATA[NEW YORK - Policyholders filed a class action lawsuit against insurance giant AIG International Group Inc. and three of its subsidiaries on Aug. 19, alleging that the defendants failed to provide them with coverage under their homeowners insurance policy for loss sustained in the Bernard L. Madoff Investment Securities (Robert and Harlene Horowitz v. AIG International Group, Inc., et al., No. 09 CV 7312, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 11 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Madoff Feeder Funds Sue Insurers, Underwriters For Defense Coverage</title>
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<![CDATA[WILMINGTON, Del. - Fourteen of the Bernard L. Madoff Investment Securities feeder funds filed a lawsuit against their primary and excess directors and officers liability insurers, primary fidelity bond insurers and excess fidelity bond insurers on Aug. 10 in Delaware state court, alleging that the defendants have refused to pay their defense costs associated with defending themselves in the lawsuits that have emerged since the Madoff Ponzi scheme scandal broke (Massachusetts Mutual Life Insurance Co., et al. v. Certain Underwriters at Lloyd's of London Subscribing to Bond Numbers B0391/FD020720g and B0391/FD020730g, et al., No. 4971, Del. Chanc.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 12 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Investors Pleaded With Particularity In Subprime Class Action, Judge Rules</title>
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<![CDATA[MIAMI - A federal judge in Florida on Aug. 11 ruled that shareholders in a securities class action lawsuit have properly pleaded most of their claims with particularity and have properly pleaded scienter and loss causation against a homebuilder and real estate company and certain of its executive officers for alleged violations of federal securities laws (Robert D. Dance, et al. v. Levitt Corp., et al., No. 08-60111, S.D. Fla.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 13 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Lead Plaintiffs Have Failed To Plead Securities Law Claims</title>
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<![CDATA[BOSTON - Lead plaintiffs in a securities class action lawsuit against a student loan provider and certain of its executive officers and directors have failed to properly plead a material misrepresentation, a federal judge in Massachusetts ruled Aug. 5 in granting the defendants' motion to dismiss (In re First Marblehead Corp. Securities Litigation, No. 08-10612, D. Mass.; 2009 U.S. Dist. LEXIS 68433). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 14 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Shareholders Failed To Properly Plead Materiality, Judge Rules</title>
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<![CDATA[NEW HAVEN, Conn. - Dismissal of a securities class action lawsuit is proper because shareholders have failed to properly plead materiality, a federal judge in Connecticut ruled July 29 in dismissing the action (Philip Hutchinson, et al. v. CBRE Realty Finance, Inc., et al., No. 3:07-cv-015990SRU, D. Conn.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 15 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Remand Of Class Action Lawsuit To State Court Is Proper, Judge Rules</title>
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<![CDATA[NEW YORK - A federal judge in New York on Aug. 18 remanded for lack of subject matter jurisdiction a securities class action lawsuit brought by two shareholders of Countrywide Financial Corp. who are seeking a determination that the subprime lender is liable for absorbing billions of dollars in mortgage payments as part of a settlement agreement (Greenwich Financial Services Distressed Mortgage Fund 3, LLC, et al v. Countrywide Financial Corp., et al., No. 08-11343, S.D. N.Y.; 2009 U.S. Dist. LEXIS 72885). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 16 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Shareholders Have Failed To Plead Actual Reliance, Judge Rules</title>
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<![CDATA[PHILADELPHIA - Shareholders in a class action lawsuit against an auditor and accounting firm have failed to properly plead actual reliance under any of the accepted theories for pleading reliance, a federal judge in Pennsylvania ruled Aug. 3 in denying the shareholders' motion for class certification (John A. Malack, et al. v. BDO Seidman, LLP, No. 08-0784, E.D. Pa.; 2009 U.S. Dist. LEXIS 67785). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 17 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>JPMDL Consolidates, Transfers Citigroup Subprime Class Actions</title>
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<![CDATA[WASHINGTON, D.C. - Ruling that 10 securities class action lawsuits against Citigroup Inc. and certain of its subsidiaries, executive officers and directors for alleged violations of the federal securities laws each involved the same questions of material fact regarding misrepresentations made concealing the company's exposure to the subprime mortgage lending/credit crisis, the Judicial Panel on Multidistrict Litigation on Aug. 7 ordered the consolidation of the suits for pretrial proceedings (In re: Citigroup Inc. Securities Litigation, MDL No. 2070, JPMDL; See April 2009, Page 17). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 18 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Borrower Has Failed To Plead Federal Lending Law Claims, Judge Rules</title>
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<![CDATA[SAN DIEGO - A borrower has failed to properly plead his federal lending law claims against his lender for allegedly providing him with mortgage refinancing in the form of a subprime mortgage loan when the borrower actually qualified for a prime rate loan, a federal judge in California ruled Aug. 14 (Arvin Serrano v. Security National Mortgage Co., et al., No. 09-1416, S.D. Calif.; 2009 U.S. Dist. LEXIS 71725). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 19 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Borrower Fails To State Claims Against Subprime Lender, Others, Judge Rules</title>
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<![CDATA[DETROIT - A borrower's claims against Countrywide Home Loans, its subsidiary and Mortgage Electronic Registration Systems Inc. (MERS) for alleged violations of federal lending laws have not been pleaded with the requisite particularity, a federal judge in Michigan ruled Aug. 17 in dismissing the complaint for failure to state a claim and for lack of subject matter jurisdiction (Roy Brown v. Countrywide Home Loans, et al., No. 09-CV-12359, E.D. Mich.; 2009 U.S. Dist. LEXIS 72396). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Investors Failed To Plead Claims With Particularity, N.Y. Federal Judge Rules</title>
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<![CDATA[NEW YORK - Investors alleging that five investment banks and their subsidiaries violated state and federal law by engaging in a scheme to defraud investors through a cash sweep program to their brokerage accounts have failed to plead their claims with particularity, a federal judge in New York ruled July 27 in dismissing the investors' second amended complaint without leave to amend (Carlo DeBlasio, et al. v. Merrill Lynch &amp; Co., Inc., et al., No. 07 Civ. 318 [RJS], S.D. N.Y.; 2009 U.S. Dist. LEXIS 64848). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 21 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>2nd Circuit: Sale Of Chrysler Free And Clear Not An Abuse Of Discretion</title>
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<![CDATA[NEW YORK - A bankruptcy judge's approval of the free-and-clear sale of a majority of the assets of troubled U.S. automaker Chrysler LLC - eliminating claims by unsecured creditors such as pension funds and asbestos claimants - was not an abuse of discretion, the Second Circuit U.S. Court of Appeals ruled in an Aug. 5 opinion (In re: Chrysler LLC, No. 09-2311, 2nd Cir.; See June 2009, Page 5). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 22 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>'Old Chrysler' Creditors Sue Daimler To Recover Asset Proceeds From Sale</title>
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<![CDATA[NEW YORK - The committee representing the unsecured creditors of Old Carco LLC, formerly known as Chrysler LLC, sued Daimler LLC, the former owner of the troubled U.S. automaker, on Aug. 17, alleging that Daimler fraudulently unloaded billions of dollars of Chrysler's assets when it sold the automaker to Cerberus Capital Management LP in 2007 (In re: Old Carco LLC (f/k/a Chrysler LLC, et al.) [The Official Committee of Unsecured Creditors of Old Carco LLC (f/k/a Chrysler LLC) v. Daimler AG (f/k/a DaimlerChrysler AG), et al.], No. 09-50002 (AJG), S.D. N.Y. Bkcy.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 23 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Divided 10th Circuit: Negative Equity Cannot Be Bifurcated, Crammed Down</title>
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<![CDATA[DENVER - A divided panel of the 10th Circuit U.S. Court of Appeals on Aug. 3 held that a couple's negative equity in a vehicle could not be bifurcated and "crammed down" according to the "hanging paragraph" of the Bankruptcy Code (John Wesley Ford Sr., et al. v. Ford Motor Credit Corporation [In Re: John Wesley Ford, et al.], No. 08-3192, Chapter 13, 10th Cir.; 2009 U.S. App. LEXIS 17198). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 24 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>North Carolina Judge Certifies Consumer Fraud Class Against Auto Dealer</title>
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<![CDATA[HENDERSON, N.C. - A class action accusing a North Carolina auto dealership group of defrauding consumers by falsifying loan documents was certified by a state court judge on July 17 (John Clark, et al. v. Alan Vester Auto Group, et al., No. 06cvs141, N.C. Super., Vance Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 25 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Borrower Fails To State Federal Lending, Debt Collection Claims</title>
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<![CDATA[NEW YORK - A borrower has failed to show that a lender and an auto repossession company violated the Truth in Lending Act (TILA) and the Fair Debt Collection Practices Act (FDCPA) because she has failed to supply any factual allegations with regard to the alleged violations, a New York federal judge ruled July 30 in dismissing the borrower's second amended complaint (Rose-Mary Durandisse v. US Auto Task Force, et al., No. 06 Civ. 2463, S.D. N.Y.; 2009 U.S. Dist. LEXIS 66280). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 26 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Group Agrees To End Consumer Arbitrations In Minnesota</title>
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<![CDATA[ST. PAUL, Minn. - The National Arbitration Forum (NAF) and Minnesota Attorney General Lori Swanson on July 20 reached an agreement resulting in the company getting out of the business of arbitrating certain consumer-related disputes (State of Minnesota, by its Attorney General, Lori Swanson, v. National Arbitration Forum Inc., et al., No. N/A, Minn. Dist., Hennepin Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 27 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Credit Scoring Company's Antitrust Claims Against Credit Bureaus Dismissed</title>
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<![CDATA[MINNEAPOLIS - A consumer credit scoring service failed to demonstrate that it had antitrust standing necessary to seek damages under Section 4 or injunctive relief under Section 16 of the Clayton Act against two of the three national credit bureaus and their jointly created credit scoring service for restraint of trade, illegal merger, attempted monopolization, conspiracy to monopolize and price fixing in violation of the Sherman and Clayton Acts, a federal judge in Minnesota ruled July 24 in granting the defendants' motion for summary judgment (Fair Isaac Corporation, et al. v. Experian Information Solutions Inc., et al., No. 06-4112, D. Minn.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Investor Failed To Allege Recoverable Damages Under Securities Laws, Judge Rules</title>
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<![CDATA[NEW YORK - A federal judge on Aug. 6 dismissed a shareholder class action lawsuit against a broker-dealer for violations of the federal securities laws, ruling that the shareholder's claims are not recoverable under federal securities laws (Aimis Art Corp. v. Northern Trust Securities, Inc., et al., No. 08 Civ. 8057 [VM], S.D. N.Y.; 2009 U.S. Dist. LEXIS 68712). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 29 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>FHFA Substituted As Plaintiff In Freddie Mac Consolidated Derivative Suits</title>
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<![CDATA[ALEXANDRIA, Va. - The Federal Housing Finance Agency (FHFA) may be substituted as the sole plaintiff in three shareholder derivative lawsuits against the Federal Home Loan Mortgage Corp. (Freddie Mac) because Congress' enactment of the Housing and Economic Recovery Act of 2008 (HERA) bars the original plaintiffs from maintaining their derivative claims, a federal judge in Virginia ruled July 27 (In re Federal Home Loan Mortgage Corp. Derivative Litigation, No. 1:08cv773 [LMB/TCB], E.D. Va.; 2009 U.S. Dist. LEXIS 65143). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>JPMDL Grants Motion For Coordinated, Consolidated Pretrial Proceedings</title>
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<![CDATA[WASHINGTON, D.C. - The Judicial Panel on Multidistrict Litigation on Aug. 11 granted a motion for coordinated and consolidated pretrial proceedings regarding three securities class action lawsuits filed against nine underwriters of the Federal Home Loan Mortgage Corp. (Freddie Mac) for alleged violations of state and federal securities laws, as well as common law fraud (In re: Federal Home Loan Mortgage Corp. (Freddie Mac) Securities Litigation, MDL No. 2072, JPMDL). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Federal Judge Dismisses Claim That Bank Made Inaccurate Report To Agency</title>
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<![CDATA[DETROIT - A woman's claim that Chase Home Finance violated Michigan's Collection Practices Act (MCPA) by falsely informing a credit reporting agency that she had filed for bankruptcy is preempted by the Fair Credit Reporting Act (FCRA), a federal judge in Michigan ruled July 29, but the plaintiff can pursue claims that the lender engaged in harassing and oppressive methods to collect escrow payments (Lynda Lynk v. Chase Home Finance LLC, No. 07-14772, E.D. Mich.; 2009 U.S. Dist. LEXIS 65385). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>JPMDL Denies Centralization Of 19 FCRA Lawsuits</title>
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<![CDATA[WASHINGTON, D.C. - Ruling that centralization of 19 lawsuits alleging violations of the Fair Credit Reporting Act (FCRA) would not "serve the convenience of the parties and witnesses," the Judicial Panel on Multidistrict Litigation (JPMDL) on Aug. 7 denied the transfer motions of six companies that sought to centralize the litigation in either a Georgia or Minnesota federal court (In re: Public Records Collection Fair Credit Reporting Act [FCRA] Litigation, MDL No. 2071, JPMDL). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 33 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Couple's Attempt To Cast Untimely TILA, RESPA Claims As Unfair Practices Rejected</title>
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<![CDATA[PHILADELPHIA - A federal judge on Aug. 5 rejected a Pennsylvania couple's attempt to cast untimely claims under the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) as a claim under Pennsylvania's Unfair Trade Practices and Consumer Protection Law (UTPCPL) because the plaintiffs failed to show that violations of the statutes constituted a violation of the UTPCPL (Stewart Sherk, et al. v. Countrywide Home Loans Inc., No. 08-5969, E.D. Pa.; 2009 U.S. Dist. LEXIS 68628). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 34 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>11th Circuit Says Foreclosure Is Not A Form Of Debt Collection</title>
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<![CDATA[ATLANTA - The 11th Circuit U.S. Court of Appeals on Aug. 14 upheld a federal judge's ruling dismissing a man's claims that Countrywide Home Loans Inc. violated the Fair Debt Collection Practices Act (FDCPA) by foreclosing on his home because the judge properly found that enforcement of a security interest through the foreclosure process is not debt collection under the act (Reginald Warren Sr. v. Countrywide Home Loans Inc., No. 08-16171, 11th Cir.; 2009 U.S App. LEXIS 18191). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 35 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Judge: Borrower Lacks Any Basis For Bringing Predatory Lending Claims</title>
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<![CDATA[DETROIT - A borrower has failed to show that the named defendants in a predatory lending lawsuit were the actual lenders or that the borrower himself had any basis for asserting the claims against the defendants, a federal judge in Michigan ruled Aug. 17 (Jamal Saleh v. Home Loan Services, Inc., No. 09-10033, E.D Mich.; 2009 U.S. Dist. LEXIS 72399). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 36 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Illinois Attorney General Sues Wells Fargo For Discriminatory Lending</title>
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<![CDATA[CHICAGO - Illinois Attorney General Lisa Madigan sued Wells Fargo &amp; Co. and two of its subsidiaries on July 31, alleging that the defendants violated state law by engaging in discriminatory lending practices by soliciting minorities for subprime mortgage loans (The People of the State of Illinois v. Wells Fargo and Co., et al., No. 09CH26434, Ill. Cir., Cook Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Pa. Federal Judge Rules Trustee Had Notice Of Mortgage, Denies Avoidance</title>
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<![CDATA[PITTSBURGH - A Pennsylvania federal judge on Aug. 13 reversed a bankruptcy court's ruling and held that a trustee had notice of a debtor couples' mortgage and, therefore, it could not be avoided (Deutsche Bank National Trust v. David E. Evans, et al., No. 09-11, Chapter 13, W.D. Pa.; 2009 U.S. Dist. LEXIS 71555). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Judge: UCL Doesn't Allow For Restitution Sought By Foreclosed Homeowner</title>
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<![CDATA[SAN JOSE, Calif. - A woman lacks standing to seek restitution under the unfair competition law (UCL) from a lender for misappropriation of the proceeds of a home refinancing and cannot seek restitution for the foreclosure on her home, a federal judge held July 1 (Kimbelry A. Brockington, et al. v. J.P. Morgan Chase Bank N.A., et al., No. 08-5795, N.D. Calif.; 2009 U.S. Dist. LEXIS 56622). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Va. Federal Judge: Debtor Failed To Comply With Bankruptcy Code</title>
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<![CDATA[ALEXANDRIA, Va. - A Virginia federal judge on Aug. 4 ruled that a debtor's bankruptcy was properly dismissed according to Bankruptcy Code and the debtor's failure to present new evidence that would warrant reconsideration (In Re: Peter Paul Mitrano, No. 09-568, Chapter 13, E.D. Va.; 20090 U.S. Dist. LEXIS 67780). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>New York Bankruptcy Judge Rules Foreclosure, Lifting Of Stay Valid</title>
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<![CDATA[BROOKLYN, NY - A New York bankruptcy judge on July 24 denied a debtor's motion to vacate an order lifting the automatic stay and reopen the bankruptcy record, ruling that she should have raised her allegations of wrongful foreclosure at the state court level (In Re: Betty Jean Sanders a/k/a Betty J. Sanders a/k/a Nzingha Sanders, No. 08-47128, Chapter 13, E.D. N.Y. Bkcy.; 2009 Bankr. LEXIS 1961). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Judge: Borrower Failed To Show Lenders Violated State, Federal Lending Laws</title>
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<![CDATA[SAN FRANCSICO - A borrower failed to show that her lenders violated state and federal lending laws, were negligent or breached their contract with her or their fiduciary duty in seeking to collect on an adjustable-rate mortgage the borrower purchased on her home, a California federal judge ruled July 27 (Elizabeth U. Onoh v. Citigroup, et al., No. 09-2481, N.D. Calif.; 2009 U.S. Dist. LEXIS 64602). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Minnesota Supreme Court: Promissory Notes Need Not Be Recorded Before Foreclosure</title>
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<![CDATA[MINNEAPOLIS - The assignment of a promissory note does not need to be recorded before a mortgagee such as Mortgage Electronic Registration System Inc. (MERS) can initiate a foreclosure by advertisement under Minnesota statutes, the state's high court ruled Aug. 12 (Jewelean Jackson, et al. v. Mortgage Electronic Registration Systems Inc., et al., No. A08-397, Minn. Sup.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>8th Circuit Overturns Preemption Ruling, Remands Excessive Loan Fees Case</title>
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<![CDATA[ST. LOUIS - A federal judge's decision finding a proposed class's claims that a number of federally insured, state-chartered banks violated Missouri's Second Mortgage Loans Act (MSMLA) preempted by the Depository Institutions Deregulation and Monetary Control Act (DIDA) was overturned by an Eighth Circuit U.S Court of Appeals panel on Aug. 7 after it found that the federal statute did not apply (Deanthony Thomas, et al. v. U.S. Bank National Association ND, et al., No. 08-3302, 8th Cir.; 2009 U.S. App. LEXIS 17650). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Former AIG Officers Greenberg And Smith To Pay $16.5M To Settle SEC Action</title>
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<![CDATA[NEW YORK - Former American International Group (AIG) officers Maurice "Hank" Greenberg and Howard Smith will pay $16.5 million total to settle the claims brought against them by the U.S. Securities and Exchange Commission for their alleged involvement in accounting fraud that inflated the company's 2000-2005 financial results, the SEC announced Aug. 6 (Securities and Exchange Commission v. Maurice R. Greenberg and Howard I. Smith, No. 09 Civ 6939, S.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>11th Circuit Affirms Ruling Requiring Man To Arbitrate Claims Against Lenders</title>
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<![CDATA[ATLANTA - A district court's ruling requiring a man to arbitrate his claims against two mortgage lenders accused of forging loan documents to include a prepayment penalty was affirmed Aug. 17 by a panel of the 11th Circuit U.S. Court of Appeals after it found that the plaintiff was bound by the terms of the arbitration agreement and that the cost of arbitrating his claim would not be prohibitively expensive (Andrzej Madura, et al. v. Countrywide Home Loans Inc., et al., No. 08-14413, 11th Cir.; 2009 U.S. App. LEXIS 18309). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Federal Judge Dismisses 3 RESPA Lawsuits For Failure To State A Claim</title>
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<![CDATA[NEW ORLEANS - A federal judge on Aug. 10 dismissed with prejudice claims brought by three Louisiana couples, two of which sought to represent statewide classes, alleging that Quicken Loans Inc. and Title Source Inc. violated the Real Estate Settlement Procedures Act (RESPA) by charging excessive loan origination fees; the judge found that the plaintiffs failed to state a claim upon which relief could be granted (Tammy Foret Freeman, et al. v. Quicken Loans Inc., et al., Nos. 08-1626, 08-1627, 08-4744, E.D. La.; 2009 U.S. Dist. LEXIS 69654). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Federal Judge Rules Borrower's Claims Against FDIC Barred By Res Judicata</title>
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<![CDATA[BALTIMORE - A borrower's claims against the Federal Deposit Insurance Corp. (FDIC) are barred by the doctrine of res judicata because the borrower had brought the same claims against the FDIC in previous lawsuits that were dismissed, a federal judge in Maryland ruled July 28 (William K. Avery v. Federal Deposit Insurance Corp., No. AW-08-2245, D. Md.; 2009 U.S. Dist. LEXIS 64728). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Investor: Ratings Agencies Failed To Perform Proper Due Diligence</title>
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<![CDATA[BROOKLYN, NY - A Mississippi retirement system filed a class action suit against three ratings agencies on July 27, alleging that the ratings agencies failed to properly evaluate the "credit quality" of certain mortgage loans they selected for mortgage pass-through certificates offered by another corporation in violation of federal securities laws (Public Employees Retirement System of Mississippi v. Moody's Investment Service, Inc., et al., No. 09-3209, E.D. N.Y.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Ohio Attorney General Sues Mortgage Servicer For Breach Of Contract</title>
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<![CDATA[COLUMBUS, Ohio - Ohio Attorney General Richard Cordray and the Ohio Department of Commerce sued mortgage loan servicer Carrington Mortgage Services LLC on July 31, alleging that the loan servicer violated state law and breached the terms of a settlement that required Carrington to engage in "good faith" negotiations with borrowers in danger of foreclosing on their mortgage loans (State of Ohio, ex rel. v. Carrington Mortgage Services, LLC., No. 09CVH 8 11433, Ohio, Comm. Pls., Franklin Co.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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<title>Advisen Reports Large Drop in Securities Lawsuit Filings In Second Quarter 2009</title>
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<![CDATA[NEW YORK - Market analysis firm Advisen Ltd. reported July 30 that the number of filings of securities lawsuits fell significantly during the second quarter of 2009, with just 140 new cases, compared with 221 during the first quarter. View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
<a href="http://www.lexis.com/research/xlink?canceldest=form&amp;keyenum=25271&amp;keytnum=0&amp;searchtype=get&amp;search=1-6 LexisNexis Financial Serv. Lit. Rep. 51 (2009)&amp;view=full&amp;ORIGINATION_CODE=00144" target="_blank">Full story on lexis.com</a>]]>
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<title>Report: Financial Sector Class Actions Continue To Fuel Securities Filings</title>
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<![CDATA[Securities class action lawsuits naming defendants in the financial sector and related to alleged Ponzi scheme activity have accounted for a majority of the of the overall number of securities class action lawsuits filed so far this year, according to a mid-year report issued July 27 by NERA Economic Consulting. View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com 
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