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UBS in legal set-back

Courtroom Gavel

A UBS unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2bn lawsuit.

Ex-Nomura traders plead not guilty

American courtroom

Three former Nomura traders are set to go to trial in November on charges that they defrauded investors by inflating the prices of mortgage-backed securities in the wake of the U.S. financial crisis, even as prosecutors wait to find out if a similar case will be thrown out on appeal.

U.S judge rejects HSBC's bid to dismiss lawsuit

American courtroom

A federal judge rejected HSBC's bid to dismiss a U.S. lawsuit claiming that its failure to perform its duties as trustee for $2.37bn of residential mortgage-backed securities contributed to the downfall of five federal credit unions.

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Courtroom Gavel

UBS in legal set-back

A UBS unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2bn lawsuit.