Royal Park Investments SA/NV v. U.S. Bank National Association

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Case overview

Case Number:

1:14-cv-02590

Court:

New York Southern

Nature of Suit:

Securities/Commodities

Multi Party Litigation:

Class Action

Judge:

Victor Marrero

Firms

Companies

Sectors & Industries:

  1. July 11, 2017

    Royal Park Says 2nd Circ. Petrobras Ruling Backs Class Cert.

    Royal Park filed a flurry of letters in New York federal court Monday, saying the Second Circuit's recent decision in Petrobras investor litigation renders "baseless" three big banks' objections to certifying Royal Park's proposed class actions alleging the banks failed to protect investors from toxic mortgage-backed securities.

  2. May 15, 2017

    US Bank Slammed Over Bid To Cut RMBS Plaintiff From Case

    A company suing U.S. Bank NA for allegedly failing to oversee residential mortgage-backed securities it invested in told a New York federal judge on Friday that the bank's gripes about document production were nothing but hot air and no reason to disqualify the company as lead plaintiff.

  3. March 06, 2017

    US Bank Fights Would-Be Class In $6.7B RMBS Suit

    U.S. Bank NA said Friday that investors should not receive class status in their $6.7 billion suit alleging the bank improperly oversaw residential mortgage-backed securities the investors bought, as it would take "thousands of mini-trials" to determine each class member's damages loan by loan.

  4. December 22, 2016

    Royal Park Pushes for Class Cert. in $6.7B RMBS Suit

    Royal Park Investments' Wednesday asked a New York court to certify the class in its $6.7 billion suit alleging U.S. Bank failed to warn investors about soured residential mortgage-backed securities.

  5. November 09, 2016

    US Bank Can't Kill $6.7B RMBS Class Action Yet, Judge Says

    Royal Park Investments' $6.7 billion proposed class action alleging U.S. Bank failed to warn investors about soured residential mortgage-backed securities may be dismissed eventually, but it isn't over yet, a New York federal judge ruled Wednesday in a fight over missing evidence.

  6. August 29, 2016

    US Bank Wants $6.7B Class Action Nixed Over Delayed Docs

    U.S. Bank NA asked a federal magistrate judge in New York on Monday to kill off a proposed $6.7 billion class action filed by Royal Park Investments NA/SV or to bar it from acting as lead plaintiff because of Royal Park's "deliberate and intentional litigation strategy" of dragging its feet throughout discovery.

  7. April 15, 2014

    US Bank Sued For Breach Of Trust Over Fortis RMBS

    U.S. Bank NA was slammed by the defunct Belgian banking behemoth Fortis Bank NA/SV in New York federal court Friday over the mishandling of residential mortgage-backed securities in its trust, making U.S. Bank the latest financial institution to face such claims.