Law360 notes Fried Frank's defeat of class certification in RMBS subprime action

Law360 notes Fried Frank's defeat of class certification in RMBS subprime action

Litigation Law360 noted New York litigation partners William McGuinness and Stephanie Goldstein's significant victory on behalf of clients, Goldman, Sachs & Co., UBS Securities, LLC and Citigroup Global Markets, Inc., in connection with a defeated class certification in a securities class action involving the issuance of approximately US$9b of residential mortgage-backed securities ("RMBS"). The decision is the first to address class certification in the context of RMBS, and it is being widely heralded throughout the investment banking community and the defense bar for its importance in defending against these types of actions. Also working on the matter was litigation partner Shahzeb Lari (NY). Am Law Litigation Daily also noted the Firm's role in the matter.

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