DEXIA SA/NV v. BEAR, STEARNS & CO., INC.

No. 12 Civ. 4761(JSR).

929 F.Supp.2d 231 (2013)

DEXIA SA/NV; Dexia Holdings, Inc.; FSA Asset Management LLC; Dexia Credit Local SA, Plaintiffs, v. BEAR, STEARNS & CO., INC.; The Bear Stearns Companies, Inc.; Bear Stearns Asset Backed Securities I LLC; EMC Mortgage LLC (f/k/a EMC Mortgage Corporation); Structured Asset Mortgage Investments II Inc.; J.P. Morgan Acceptance Corporation I; J.P. Morgan Mortgage Acquisition Corporation; J.P. Morgan Securities LLC (f/k/a JPMorgan Securities INC.); Wamu Asset Acceptance Corp.; Wamu Capital Corp.; Wamu Mortgage Securities; JPMorgan Chase & Co.; and JPMorgan Chase Bank, N.A., Defendants.

United States District Court, S.D. New York.

February 27, 2013.


Attorney(s) appearing for the Case

Jeroen Van Kwawegen , Mark Lebovitch , Michael Dains Blatchley , William Curtis Fredericks , Bernstein Litowitz Berger & Grossmann LLP, New York, NY, Timothy Alan Delange , Bernstein Litowitz Berger & Grossmann LLP, San Diego, CA, for Plaintiffs.

Daniel Slifkin , Hector Javier Valdes , Joe Wesley Earnhardt , Cravath, Swaine & Moore LLP, New York, NY, for Defendants.


MEMORANDUM

JED S. RAKOFF, District Judge.

This action arises from the purchase by plaintiff FSA Asset Management LLC ("FSAM") of over $1.6 billion in certificates issued in 51 residential mortgage-backed securities ("RMBS") offerings in 2006 and 2007. Am. Cmplt. ¶¶ 2, 13. According to the allegations in the Amended Complaint, FSAM assigned and transferred the RMBS certificates, including all "right, title and interest" in the RMBS assets...

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