2012-09-07dailyfinance.com

``The 17 offerings that were the basis of the lawsuit were sold under the same registration statement, and also contained loans from several other mortgage lenders.

These lenders included Countrywide, later part of Bank of America Corp (BAC); National City, later part of PNC Financial Services Group Inc (PNC); SunTrust Banks Inc (STI); and Washington Mutual, later part of JPMorgan Chase & Co (JPM).

The appeals court found that the plaintiff may represent investors in seven offerings backed by GreenPoint or Wells Fargo loans: the two it invested in, plus five others. It said the other 10 offerings were too different to be part of the case.

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