United States Second Circuit
Federal Housing Finance Agency v. UBS Americas Inc., 12-3207
The district court properly denied defendants' motion to dismiss plaintiff's second amended complaint, brought on behalf of Fannie Mae and Freddie Mac, alleging fraud and misrepresentation in connection with the marketing and sale of mortgage-backed securities, where: 1) section 4617(b)(12) of the Housing and Economic Recovery Act of 2008 (HERA) applies to this Action and supplants any other time limitations that otherwise might have applied; 2) under HERA, the action was timely; and 3) plaintiff had standing to bring this suit.
Appellate Information
- Decided 04/05/2013
- Published 04/05/2013
Judges
- CHIN
Court
- United States Second Circuit