Deutsche Bank and Wells Fargo have urged a New York federal judge to dismiss a pair of lawsuits filed by BlackRock accusing the banks of causing billions of dollars in of losses related to mortgage-backed securities during the financial crisis. TRY LAW360 FREE FOR SEVEN DAYS The lawsuit was brought on behalf of investors who bought or sold investments linked to mortgage bonds issued by Fannie Mae (FNM) and Freddie Mac (FRE), which were both government-sponsored enterprises.
Deutsche Bank and Wells Fargo have urged a New York federal judge to dismiss a pair of lawsuits filed by BlackRock accusing the banks of causing billions of dollars in of losses related to mortgage-backed securities during the financial crisis. The lawsuit was brought on behalf of investors who bought or sold investments linked to mortgage bonds issued by Fannie Mae (FNM) and Freddie Mac (FRE), which were both government-sponsored enterprises.