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Supreme Court Rejects Cleveland’s Attempt to Recover from Subprime Lenders for Public Nuisance

Posted in Supreme Court

On Monday, the Supreme Court denied certiorari in City of Cleveland v. Ameriquest Mortgages Securities (discussed in our previous post), in which the Sixth Circuit had held that indirect injuries asserted by the City of Cleveland were not enough to allow the City to assert public nuisance claims against banks that provided financing to subprime mortgage lenders and created mortgage-backed securities.