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Securities Litigation

Jerry has been lead FDIC appellate counsel in high profile cases brought under the Securities Act of 1933 against banks and underwriters for misrepresenting underwriting standard used for loans underpinning residential mortgaged-backed securities (RMBS), which played a significant role in causing the financial crisis that commenced in 2007 and accelerated with the bankruptcy of Lehman Brothers in September 2008.

NATIONAL CREDIT UNION ADMINISTRATION BOARD V. BARCLAYS CAPITAL, INC.

National Credit Union Administration Board v. Barclays Capital, Inc., 785 F.3d 387 (10th Cir. 2015) (lead counsel for FDIC as amicus curiae) (in a suit filed under the Securities Act of 1933 by NCUA on behalf of failed credit unions that purchased residential mortgaged-backed securities (RMBS) against the RMBS issuers and underwriters, reversing decision of […]

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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 […]

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NATIONAL CREDIT UNION ADMINISTRATION BOARD V. UBS SECURITIES, LLC, ET AL.

National Credit Union Administration Board v. UBS Securities, LLC, et al., No. 12-cv-2591 (D. Kan. 2012) (lead counsel for FDIC as amicus curiae) (consolidated with four other cases filed under the Securities Act of 1933 by NCUA on behalf of credit unions that purchased residential mortgaged-backed securities (RMBS) against the RMBS issuers and underwriters, holding […]

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