In an opinion Friday, Judge Scheindlin dismissed as time-barred a case alleging that certain mortgage-backed securities were not as represented.  The plaintiff claimed that the statute of limitations did not begin to run until the defendant refused to repurchase or cure the defects, but Judge Scheindlin, relying largely on the First Department’s recent decision in ACE Sec. Corp. v. DB Structured Products (see here, starting at pg. 26), disagreed:
Continue Reading Judge Scheindlin Rules MBS Repurchase Suit is Time-Barred; Splits With Judge Hellerstein