Stephen Plotnick Quoted by Law360 Regarding FHFA Proceeding with Its Suit Against UBS

Litigation partner Stephen M. Plotnick was quoted in the April 5 Law360 article “FHFA's $6B MBS Suit Against UBS Can Go On, 2nd Circ. Says.”  On March 31, the Second Circuit ruled in favor of the Federal Housing Finance Agency saying it could proceed with its $6.4 billion lawsuit against UBS AG.  “With the Second Circuit siding with the FHFA in the UBS case, all of the banks are going to have to seriously consider reaching a settlement in order to control the damage a court case could inflict,” said Stephen Plotnick.  Plotnick noted, however, that the Second Circuit’s ruling was but the latest in a string of decisions that have gone against the defendants, and added that “[w]hen you're in a no-leverage situation, it makes it difficult to settle a case.”

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