US top court rejects Nomura and RBS appeal in mortgage-backed securities case

US top court rejects Nomura and RBS appeal in mortgage-backed securities case

A man walks past a logo of Nomura Holdings in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai
WASHINGTON: The U.S. Supreme Court on Monday declined to hear an appeal brought by Nomura Holdings Inc and the Royal Bank of Scotland Group PLC seeking to overturn an order requiring them to pay US$839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.The court left in place a September ruling by the New York-based 2nd U.S. Circuit Court of Appeals that went against the banks, which had challenged the 2015 award on multiple grounds.
(Reporting by Lawrence Hurley; Editing by Will Dunham)
Source: Reuters
 Source : http://www.channelnewsasia.com/news/business/us-top-court-rejects-nomura-and-rbs-appeal-in-mortgage-backed-securities-case-10468428