By Jonathan Stempel NEW YORK (Reuters) - A U.S. judge on Monday dismissed most of a lawsuit where Germany's Commerzbank sought to hold Bank of New York ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW YORK - A U.S. judge on Monday dismissed most of a lawsuit where Germany's Commerzbank sought to hold Bank of New York Mellon liable for more than $1 billion of losses on toxic mortgages purchased before the 2008 global financial crisis.
Dave Wollmuth, a lawyer for Commerzbank, declined to comment. A lawyer for BNY Mellon also declined to comment. They have long said their contracts shielded them from liability for RMBS losses, and that particularly sophisticated investors should have known the risks.
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