Firm Files Suit Against U.S. Bank and BofA on Behalf of Pacific Life
June 24, 2015
On June 24, 2015, the Firm filed a complaint in the Southern District of Ohio on behalf of Pacific Life Insurance Company and Pacific Life & Annuity Company against U.S. Bank National Association and Bank of American, N.A. in their role as Trustees for 32 residential mortgage-backed securities (“RMBS”) trusts that issued certificated purchased by Pacific Life. The complaint asserts that the Trustees breached their contractual and fiduciary duties, and their duties under the Trust Indenture Act, 15 U.S.C. § 77aaa et seq., and New York Real Property Law § 124 et seq.