US judge says banks cannot duck Tennessee pension fund suit
A judge has ruled that Credit Suisse, Goldman Sachs, Morgan Stanley and UBS cannot avoid the accusations of a Tennessee state pension fund, which claims that they lost $164m on faulty mortgage-backed securities.
By Carmen Germaine (May 26, 2016, 7:36 PM EDT) -- A Tennessee chancery court judge declined to dismiss the state pension fund's claims that it lost $164 million on faulty mortgage-backed securities underwritten and issued by UBS Securities and others, finding the fund is an arm of the state and not subject to the statute of limitations....

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