Resolved portion dates back to 2012.
Latest motion says Florida credit union lacks facts, new claims in amended complaint in suit over failed CDOs.
Several Wall Street banks and credit rating agencies are claiming that the former Eastern Financial Florida Credit Union knew the risks going in before investing in $100 million in collateralized debt obligations.
The risks tied to collateralized debt obligations remains the focal point of Space Coast Credit Union’s lawsuit against Wall Street banks and credit raters.
Defendants tell judge in motion seeking dismissal that former credit union was well informed of risks in collateralized debt obligations.
In a $100 million lawsuit from Space Coast Credit Union against several Wall Street banks and credit rating agencies, a federal judge has ordered the parties to get together at a nonbinding mediation session.
More than a week after Space Coast Credit Union announced its mortgage securities lawsuit against several Wall Street banks, a judge ordered mediation.
The Tampa Bay market in Florida is such prime territory for MIDFLORIDA Credit Union that the cooperative is on a mission to build its presence there.
A merger by another name?
The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.