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NATIONAL CREDIT UNION ADMINISTRATION BOARD v. MORGAN STANLEY & CO., 11cv2340 (JWL) (2015)

Court: District Court, D. Kansas Number: infdco20150526d34 Visitors: 2
Filed: May 22, 2015
Latest Update: May 22, 2015
Summary: ORDER DENISE COTE , District Judge . GEORGE H. WU , District Judge . JOHN W. LUNGSTRUM , District Judge . JAMES P. O'HARA , Magistrate Judge . HON. DENISE COTE, HON. JOHN W. LUNGSTRUM, and HON. GEORGE H. WU, District Judges; and HON. JAMES P. O'HARA, Magistrate Judge: On May 18, 2015, NCUA submitted a letter concerning UBS's response to Interrogatory No. 11. That Interrogatory requests: "For each Specified Security, identify Your employees responsible for ensuring the accuracy of the
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ORDER

GEORGE H. WU, District Judge.

JOHN W. LUNGSTRUM, District Judge.

JAMES P. O'HARA, Magistrate Judge.

HON. DENISE COTE, HON. JOHN W. LUNGSTRUM, and HON. GEORGE H. WU, District Judges; and HON. JAMES P. O'HARA, Magistrate Judge:

On May 18, 2015, NCUA submitted a letter concerning UBS's response to Interrogatory No. 11. That Interrogatory requests: "For each Specified Security, identify Your employees responsible for ensuring the accuracy of the statements set forth in [appendices to NCUA's complaints containing examples of the alleged misrepresentations in the Offering Documents] and describe the principal and material efforts made by those employees to ensure the accuracy of those statements."

UBS served an amended response that identified documents listing every UBS employee who worked on a particular securitization in any capacity. In its May 20 responsive letter, UBS explains that it had "no choice" but to identify all employees who played a role in the securitization process as "each had some responsibility." UBS does not address why it did not identify "the principal and material efforts made by" the identified employees to ensure the accuracy of the identified statements in the Offering Documents. Accordingly, it is hereby

ORDERED that, by May 26, UBS shall answer Interrogatory No. 11 by identifying by name those employees with ultimate responsibility for ensuring the accuracy of the identified statements in each of the Offering Documents and by describing the principal and material efforts made by each identified employee to ensure the accuracy of those statements.

Source:  Leagle

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