Plumbers' Union Local No. 12 Pension Fund, individually and on behalf of all others similarly situated v. Nomura Asset Acceptance Corp., et al.
Published: Feb. 8, 2014 | Result Date: Dec. 19, 2013 | Filing Date: Jan. 1, 1900 |Case number: 1:08-cv-10446-RGS Settlement – $21,200,000
Court
USDC Massachusetts
Attorneys
Plaintiff
David A. Rosenfeld
(Weinberg, Roger & Rosenfeld PC)
Scott H. Saham
(Robbins, Geller, Rudman & Dowd LLP)
Arthur C. Leahy
(Robbins, Geller, Rudman & Dowd LLP)
David S. Harris
(North Bay Law Group)
Ivy T. Ngo
(Roche Freedman LLP)
Samuel H. Rudman
(Robbins, Geller, Rudman & Dowd LLP)
Thomas E. Egler
(Robbins, Geller, Rudman & Dowd LLP)
Defendant
Facts
Plumbers' Union Local No. 12 Pension Fund filed a securities class action against Nomura Asset Acceptance Corp.
Contentions
PLAINTIFF'S CONTENTIONS:
The Union contended that Nomura artificially inflated the prices of its certificates. Class members were damaged as a result of Nomura's misrepresentations, omissions, and nondisclosures. Thus, the Union asserted violations of the federal securities laws against Nomura.
DEFENDANT'S CONTENTIONS:
Nomura denied the Union's allegations.
Result
The parties settled for $21.2 million.
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