• Ohio Court Rejects "Public Nuisance" Claim against Subprime Loan Securitizers
  • June 5, 2009 | Authors: Jay B. Kasner; Joseph L. Barloon; Anand S. Raman
  • Law Firms: Skadden, Arps, Slate, Meagher & Flom LLP - New York Office ; Skadden, Arps, Slate, Meagher & Flom LLP - Washington Office
  • In a decision issued today that likely will have far-reaching ramifications in subprime lending litigation, the United States District Court for the Northern District of Ohio dismissed a complaint filed by the City of Cleveland against 21 financial institutions that had securitized subprime loans originated in Cleveland into mortgage-backed securities.