United States Second Circuit
In re Lehman Brothers Mortgage-Backed Securities Litigation, 10-0712, 10-0898, 10-1288
In a dispute arising from several securities actions seeking to hold defendants liable as underwriters or control persons for misstatements or omissions in securities offering documents,15 U.S.C. sections 77k(a)(5), 77o(a), judgment of the district court dismissing class-action complaints is affirmed where: 1) defendant-rating agencies are not underwriters within the meaning of 15 U.S.C. section 77b(a)(11); 2) defendants are not control persons as defined by section 77o(a); and 3) district court's denial of request to amend complaint was not an abuse of discretion.
Appellate Information
- Decided 05/11/2011
- Published 05/11/2011
Judges
- RAGGI
Court
- United States Second Circuit