PACIFIC INVESTMENT MANAGEMENT COMPANY V. RESIDENTIAL ACCREDIT LOANS, INC., ET AL.
We represented over 200 funds and clients of PIMCO in a lawsuit against Goldman Sachs & Co. and UBS Securities involving $500 million of RALI mortgage-backed notes in which the prospectus contained an erroneous description of the credit support and principal payment sequence for the notes. Within days of filing the case, we obtained a quite favorable settlement for our clients.
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