In the FHFA litigation over mortgage-backed securities, the Second Circuit today denied the defendant banks’ mandamus petition, which argued that Judge Cote’s discovery rulings created a “grossly inequitable, clearly erroneous framework for litigation that deprives Petitioners of their basic due process rights to confront multi-billion dollar claims.” The Second Circuit’s Order states, in full:
Petitioners, through counsel, have filed a petition for a writ of mandamus seeking reversal of certain discovery rulings made by the district court in these coordinated cases. Upon due consideration, it is hereby ORDERED that the mandamus petition is DENIED because Petitioners have not demonstrated that they lack an adequate, alternative means of obtaining the relief they seek – i.e., an appeal from a final judgment. See Linde v. Arab Bank, PLC, 706 F.3d 92, 107, 117-18 (2d Cir. 2013).