New York, NY - Dr. Charles Cowan testified in New York State Court about the appropriateness of the use of samples of loans to evaluate the overall quality of underwriting in a set of loans sold in a securitization. The issue before the court was whether samples of loans could be used to evaluate underwriting. After a sample is reviewed, the proposal is to extrapolate the results to the population of loans in a securitization. There would be several possible uses of the results as applied to the securitization: determination of liability in terms of the number of loans that are in breach of underwriting standards, fraud if it can be shown that there is a pattern of practice in the breaches of the underwriting standards, and alternative measures of damages with regard to the losses suffered in the securitization. Ruling by Judge Branston on 12/22/2010 accepted the motion to accept sampling as a means of developing evidence in the evaluation of the securitization.
A manufacturer of liquid energy drinks filed suit against another manufacturer of liquid energy drinks, claiming that the shape and type on the bottles of the defendant caused confusion among potential purchasers.
A case involving claims of lost sales, due to the deceptive reporting of prices and bait-and-switch.
