The Ticker
Banks, subprime lender face lawsuit over mortgages
3/4/13 3:20pm
A federal appeals court has reinstated a class-action lawsuit that charges a defunct subprime lender and several banks with misleading investors in the run-up to the financial crisis.
The suit by the New Jersey Carpenters Health Fund, a pension fund, against representatives of NovaStar Mortgage, Royal Bank of Scotland, Deutsche Bank and other defendants can continue, the U.S. Court of Appeals for 2nd Circuit ruled on Friday.
