Case Study
Alleged Misrepresentations in RMBS Offering Documents
Cornerstone Research worked on several phases of one of the earliest RMBS matters, including class certification, summary judgment, and expert Daubert motions. In a case stemming from the housing and credit crises, the plaintiffs accused a major bank and other defendants of using misleading offering documents. The case was one of the earliest of the residential mortgage-backed securities (RMBS) matters and went through multiple phases: class certification, motion to dismiss, summary judgment, expert reports and depositions, and expert D a u b e r t motions. Counsel for the bank retained Dr. Allan Kleidon, a senior vice president at Cornerstone Research, to opine on issues related to class certification, damages, and loss causation. Cornerstone Research also worked with Mr. Charles Grice of