A New York state judge on Tuesday dismissed two insurers from a mortgage-backed securities suit over $1.8 billion in loans issued by Greenpoint Mortgage Funding Inc., finding the insurers couldn't sue the mortgage originator again once its original claims were found to be without merit.
Why would 15 lawyers leave one of the largest law firms in town and start up their own? They're tapping into a new market that's growing as a result of the bad economy.
The boutique law firm trend continues, with more partners splitting from their big and midsize firms and striking out on their own.
Here at the Litigation Daily, fat brokerage accounts are about as commonplace as July snowstorms. So forgive us our initial ignorance about the "cash sweep" programs offered by brokers, which were the subject of a class action that Manhattan federal district court judge Richard Sullivan dismissed Monday. But after reading Judge Sullivan's opinion, we feel like we could teach a course in cash sweeps.