Nomura Corporate Research And Asset Management Inc

Allegations: THE FEDERAL HOUSING FINANCE AGENCY (FHFA), AS CONSERVATOR FOR THE FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE) AND THE FEDERAL HOME LOAN MORTGAGE CORPORATION (FREDDIE MAC) FILED A COMPLAINT AGAINST NOMURA HOLDING AMERICA INC., NOMURA ASSET ACCEPTANCE CORPORATION, NOMURA HOLDING EQUITY LOAN, INC., NOMURA CREDIT & CAPITAL , INC., NOMURA SECURITIES INTERNATIONAL, INC., CERTAIN OF THEIR OFFICERS, INCLUDING AN OFFICER WHO IS ALSO A PRINCIPAL OF NOMURA CORPORATE RESEARCH AND ASSET MANAGEMENT INC. ("NCRAM'), AND AN UNAFFILIATED UNDERWRITER. THE SUIT, WHICH IS UNRELATED TO NCRAM'S INVESTMENT ADVISORY BUSINESS, ASSERTS CLAIMS PURSUANT TO SECTIONS 11,12, AND 15 OF THE SECURITIES ACT OF 1933, STATE SECURITIES LAW AND STATE COMMON LAW IN CONNECTION WITH THE SALE OF RESIDENTIAL MORTGAGE-BACKED SECURITIES TO FANNIE MAE AND FREDDIE MAC. THE SUIT ALLEGES THAT THE REGISTRATION STATEMENTS FOR SUCH SECURITIES CONTAINED MISSTATEMENTS AND OMISSIONS CONCERNING THE UNDERLYING MORTGAGES. THE OFFICER WAS A CONTROL PERSON OF ISSUERS WHICH WERE FOUND TO HAVE MADE MISSTATEMENTS IN SUPPLEMENTS TO THEIR OFFERING MATERIALS. Status: Final Summary: ON MAY 15, 2015 THE COURT ENTERED A FINAL JUDGMENT IN FAVOR OF THE PLAINTIFF AGAINST THE DEFENDANTS, JOINTLY AND SEVERALLY, ORDERING DEFENDANTS TO PAY APPROXIMATELY $806,000,000 PLUS ATTORNEY FEES AND COSTS, UPON DELIVERY OF THE RMBS CERTIFICATES TO DEFENDANTS BY THE GSES. A STAY OF EXECUTION HAS BEEN ENTERED. ON JUNE 10, 2015, THE DEFENDANTS FILED A NOTICE OF APPEAL WITH THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK. THE SUPREME COURT DENIED NOMURA'S PETITION FOR WRIT OF CERTIORARI ON JUNE 25, 2018.