FDIC, as receiver for Strategic Capital Bank v. Countrywide Financial Corp.
FDIC, as receiver for Strategic Capital Bank v. Countrywide Financial Corp., No. 12-57299 (9th Cir.) (lead counsel for FDIC) (arguing that a claim brought under the Securities Act of 1933 by FDIC as receiver for a failed bank that purchased residential mortgage-backed securities (RMBS) issued by Bank of America (BOA), or its subsidiary Countrywide, and underwritten by other defendants was not barred by the Act's statute of limitations, because FDIC's extender statute preserved the claim or the bank's claim was tolled because of the pendency of a similar suit filed as a class action by other plaintiffs before the Act's statute of limitations expired) (settled after briefing but prior to argument as part of $16.5 billion settlement between BOA and Justice in which FDIC received approx. $500 million related to this and other similar suits brought by FDIC against BOA). Opening Brief of FDIC Reply Brief of FDIC