MAINE STATE RETIREMENT v. COUNTRYWIDE FINANCIAL

Case No. 2:10-cv-00302-MRP-MANx.

722 F.Supp.2d 1157 (2010)

MAINE STATE RETIREMENT SYSTEM, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. COUNTRYWIDE FINANCIAL CORPORATION, et al., Defendants.

United States District Court, C.D. California.

November 4, 2010.


Attorney(s) appearing for the Case

Andrew L. Zivitz , Jennifer L. Joost , Lauren Wagner Pederson , Sharan Nirmul , Lead Attorneys, Pro Hac Vice, Sean M. Handler , Pro Hac Vice, Barroway Topaz Kessler & Check LLP, Radnor, PA, Christina A. Royce , Daniel S. Drosman , Lauren G. Kerkhoff , Scott H. Saham , Spencer Alan Burkholz , Thomas E. Egler , Lead Attorneys, Robbins Geller Rudman & Dowd LLP, San Diego, CA, for Maine State Retirement System, Individually and On Behalf of All Others Similarly Situated, Plaintiff.

Arthur L. Shingler, III , Scott and Scott LLP, Los Angeles, CA, for Putnam Bank, Movant.

Avi N. Wagner , The Wagner Firm, Los Angeles, CA, Ira M. Press , Pro Hac Vice, Randall K. Berger , Pro Hac Vice, Kirby McInemey LLP, New York, NY, for United Methodist Churches Benefit Board, Inc., Movant.

Christopher Lometti , Daniel B. Rehns , Joel P. Laitman , Lead Attorneys, Pro Hac Vice, Richard A. Speirs , Lead Attorney, Cohen Milstein Seller & Toll PLC, New York, NY; Julie G. Reiser , Lead Attorney, Matthew B. Kaplan , S. Douglas Bunch , Steven J. Toll , Lead Attorneys, Pro Hac Vice, Joshua S. Devore , Pro Hac Vice, Cohen Milstein Hausfeld & Toll PLLC, Washington, DC, Michael M. Goldberg , Glancy Binkow & Goldberg LLP, Los Angeles, CA, for Iowa Public Employees' Retirement System, Movant.

Spencer Alan Burkholz , Robbins Geller Rudman & Dowd LLP, San Diego, CA, for Maine Public Employees Retirement System, Operating Engineers Annuity Plan, Pension Trust Fund for Operating Engineers, Vermont Pension Investment Committee, Washington State Plumbing & Pipefitting Pension Trust, Movants.

Azra Z. Mehdi , Milberg LLP, Los Angeles, CA, Spencer Alan Burkholz , Robbins Geller Rudman & Dowd LLP, San Diego, CA, for Mashreqbank, P.S.C., Movant.

Lloyd Winawer , Lead Attorney, Goodwin Procter LLP, Los Angeles, CA, Brian Charles Devine , Brian E. Pastuszenski , Inez H. Friedman-Boyce , Jennifer B. Luz , Pro Hac Vice, Goodwin Procter LLP, Boston, MA, for Countrywide Financial Corporation, a Delaware corporation, Countrywide Home Loans, Inc., CWALT, Inc., CWMBS, Inc., CWHEQ, Inc., Countrywide Capital Markets, Countrywide Securities Corporation, N. Joshua Adler, CWABS, Inc., Defendants.

Alexander K. Mircheff , Dean J. Kitchens , Gibson Dunn and Crutcher LLP, Los Angeles, CA, for J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Bear, Stearns & Co. Inc., Banc of America Securities LLC, UBS Securities, LLC, Edward D. Jones & Co., L.P., Citigroup Global Markets Inc., Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, Greenwich Capital Markets, Inc., Barclays Capital Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Defendants.

Alexander K. Mircheff , Dean J. Kitchens , Gibson Dunn and Crutcher LLP, Los Angeles, CA, Inez H. Friedman-Boyce , Pro Hac Vice, Goodwin Procter LLP, Boston, MA, for BNP Paribas Securities Corp., Defendant.

Christopher G. Caldwell , David C. Codell , Jeffrey M. Hammer , Caldwell Leslie & Proctor PC, Los Angeles, CA, for Stanford L. Kurland, Defendant.

Jennifer M. Sepic , Lead Attorney, Bingham McCutchen LLP, Los Angeles, CA, Leiv H. Blad, Jr. , Lead Attorney, Pro Hac Vice, Boyd Cloern , Pro Hac Vice, Bingham McCutchen LLP, Washington, DC, for David A. Spector, Defendant.

David A. Priebe , Jeffrey B. Coopersmith , DLA Piper US LLP, East Palo Alto, CA, Matthew D. Caplan , Nicolas Morgan , DLA Piper US LLP, Los Angeles, CA, Shirli Fabbri Weiss , DLA Piper Rudnick Gray Cary US, San Diego, CA, for Eric P. Sieracki, Defendant.

Joshua G. Hamilton , Peter Young Hoon Cho , William F. Sullivan , Lead Attorneys, Paul Hastings Janofsky and Walker LLP, Los Angeles, CA, for Ranjit Kripalani, Jennifer S. Sandefur, Defendants.

Michael D. Torpey , Lead Attorney, Penelope A. Graboys Blair , Lead Attorney, Orrick Herrington and Sutcliffe, San Francisco, CA, Michael C. Tu , Lead Attorney, Orrick Herrington and Sutcliffe LLP, Los Angeles, CA, for David A. Sambol, Defendant.

Jonathan Rosenberg , Pro Hac Vice, O'Melveny & Myers LLP, New York, NY, Matthew W. Close , Seth A. Aronson , O'Melveny and Myers LLP, Los Angeles, CA, for Bank of America Corp., NB Holdings Corporation, Defendants.

Alexander K. Mircheff , Gibson Dunn and Crutcher LLP, Los Angeles, CA, for JPMorgan Chase, Erroneously Sued As JPMorgan Chase & Co., RBS Securities Inc., Defendants.


ORDER RE: MOTIONS TO DISMISS AMENDED CLASS ACTION CONSOLIDATED COMPLAINT

MARIANA R. PFAELZER, District Judge.

I. INTRODUCTION AND BACKGROUND

From 2005 to 2007, Countrywide was the nation's largest residential mortgage lender. AC ¶ 4. During that period, Countrywide originated and purchased residential mortgages and home equity lines of credit ("HELOC") through its subsidiary Countrywide Home Loans ("CHL"). Id. at ¶ 28. Between...

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