Merrill Lynch Alternative Note Asset Trust Series
On October 20, 2011, following mediation and negotiations with the assistance of a former federal judge, the Settling Parties executed a Confidential Term Sheet to Settle Class Action reflecting an agreement in principle to settle the Action for $315 million.
On March 22, 2011, a Motion for Class Certification was filed, which was granted on JJune 16, 2011.
On November 8, 2010, the Court granted in part and denied in part defendants’ motions to dismiss, dismissing with prejudice the claims against J.P. Morgan Securities, Inc., and ABN AMRO, Incorporated, and therefore, as to all defendants, the claims that relate to the C-BASS 2007-CB4 offering.
On July 6, 2010, Lead Plaintiff filed the Amended Class Action Complaint for Violation of §§ 11,12(a)(2) and 15 of the Securities ActOn March 31, 2010, the Court granted in part and denied in part defendants’ motions to dismiss the consolidated class action complaint.
On May 20, 2009, Lead Plaintiff filed the consolidated class action complaint.
On February 17, 2009, another investor filed a related action in the Southern District of New York, alleging violations of §§ 11, 12(a)(2) and 15 of the Securities Act. By Order dated April 2,2009. By Order dated April 23, 2009, the Court appointed the Lead Plaintiff and the lead counsel for the case.
On December 12, 2008, an investor filed a lawsuit on behalf of those who purchased or otherwise acquired Merrill Lynch Alternative Note Asset Trust Series 2007-A3, 2007-AF1, 2007-F1, Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, 2007-3, 2007-4, 2007-A, Merrill Lynch Mortgage Investors Trust Series 2006-MLN1, 2006-FM1, 2006-FF1, 2006-RM5, MLCC 2006-2, 2006-AHL1, 2006-RM3, 2006-WMC1, 2006-WMC2, 2006-A1, Ownit Mortgage Loan Trust Series 2006-2 against Merrill Lynch and certain other defendants in the United States District Court for the Southern District of New York, asserting claims under §§ 11, 12(a)(2) and 15 of the Securities Act of 1933.