Latest motion says Florida credit union lacks facts, new claims in amended complaint in suit over failed CDOs.
Judge says complaints lacked detail on fraud allegations against brokers but that credit union can come back with more details.
Federal court in Florida says it needs more time to review motions from banks and ratings agencies.
Justice Department cites failed corporate in lawsuit, says S&P rigged ratings to please bank customers.
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.