New York Top Court Ruling May Limit Future Mortgage Suits
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New York’s highest court may have shut the door to many future lawsuits against sellers and sponsors of flawed mortgage bonds, ruling investors have six years from the day the deal closed to pursue remedies.
The state Court of Appeals in Albany Thursday upheld the dismissal of a 2012 suit by investors seeking to force a Deutsche Bank AG unit to buy back more than $330 million of bad mortgages that were packaged into bonds before the financial crisis.