United States Second Circuit
Retirement Bd. of the Policeman's Annuity and Benefit Fund of the City of Chicago, 13‐1776
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In this case involving residential mortgage-backed securities (RMBS) trusts, the district court's order dismissing plaintiffs' claims due to lack of standing and holding that the Trust Indenture Act (TIA) applies to RMBS certificates governed by pooling and servicing agreements is affirmed in part and reversed in part, where: 1) under NECA-IBEW Health & Welfare Fund v. Goldman Sachs & Co., because plaintiffs' own claims do not raise the same set of concerns as claims arising form trusts in which plaintiffs did not invest, dismissal is proper; and 2) RMBS certificates governed by pooling and servicing agreements are exempt from the TIA.
Appellate Information
- Decided 12/23/2014
- Published 12/23/2014
Judges
- Livingston
Court
- United States Second Circuit