A Survey of the RMBS Litigation Landscape

January 26, 2011

The fallout from the collapse of the U.S. housing market is far from over. Institutional investors worldwide have suffered losses on purchases of toxic residential mortgage-backed securities ("RMBS") and collateralized debt obligations ("CDOs") that were, in many cases, alleged to be sold by Wall Street investment banks based upon false and misleading disclosures. These alleged securities law violations have already resulted in a wave of investor litigation in state and federal courts throughout the country.

Our webcast program surveyed the RMBS litigation landscape, addressing the origination and securitization process, the litigation claims and defenses in these cases, the litigation scorecard thus far, and the potential exposure for the banks. The discussion featured a panel of experts deeply versed in this area:

  • Senior industry analyst Joshua Rosner, who is a managing director at Graham Fisher & Company and has advised regulators and institutional investors on housing and mortgage finance issues;
  • Noted author and litigator Talcott Franklin, principal at Talcott Franklin P.C. and the author of the Mortgage and Asset Backed Securities Litigation Handbook, who has also established the RMBS Investor Clearing House;
  • Leading securities litigator Christopher Malloy, partner at Skadden, Arps, Slate, Meagher & Flom LLP, who represents financial institutions in multiple subprime, RMBS and CDO-related cases; and
  • BLB&G partner and moderator Gerald Silk, who is representing numerous institutional investors in RMBS-related actions.

Click here to view the recorded webcast.