Four months after Space Coast Credit Union was permitted toamend its complaint regarding alleged losses of more than $100million in collateralized debt obligations, the defendant banks andrating firms are again seeking to have the suit dismissed.
On March 18, the $3 billion Space Coast in Melbourne, Fla.,amended its complaint to include several claims including allegedfraud and unjust enrichment.
Among the banks named in the Space Coast suit were Wells FargoSecurities, formerly known as Wachovia Capital Markets, J.P. MorganSecurities, formerly known as Bearn Stearns & Co. Inc., MerrillLynch and its subsidiary, Merrill Lynch Home Loans, UBS Securitiesand Barclay's Capital Inc. Other defendants named were Richard S.Fuld Jr., former chairman/CEO of Lehman Brothers, and Moody'sInvestors Service Inc.
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