Susan M. Greenwood | Bloomberg LawNew Jersey Carpenters Health Fund v. DLJ Mortgage Capital, Inc., No. 08-CV-05653 (S.D.N.Y. Aug. 16, 2011) The U.S. District Court for the Southern District of New York certified a class of investors who purchased certain mortgage-backed securities in the form of pass-through certificates (Certificates). Although investors purchased Certificates worth $2.39 billion, the class comprises only those investors who purchased Home Equity Mortgage Trust, Series 2006-5 (HEMT 2006-5) Certificates, as the Court previously dismissed on standing grounds, claims on behalf of purchases of additional series.
Even Small Classes May Be Certified
Different Tranches of Certificates Do Not Impede Certification
Antagonistic Interests, Not Ignorance
Common Issues Predominate
Class Actions Are Superior for Small Classes
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