Media Coverage
Source: ProPublica
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
06.22.11
A settlement between JPMorgan Chase and the Securities Exchange Commission involving CDOs created with the help of hedge fund Magnetar has raised questions about whether other banks will face a similar fate in regard to mortgage securities deals they had done.
"It is impossible for the SEC to sweep the Street on every one of these bum deals," says Pillsbury Corporate & Securities partner Charles Landy, formerly an attorney in the SEC's Division of Enforcement.
One strategy used by the SEC, reports the article, laying down the foundation for civil litigators to use as templates in the future.
"Historically the SEC enforcement division has always looked for help from class-action lawyers," says Landy.