Ex-Client Sues Stradley Firm, Says Securitization Errors re $200M Subprime Loans Cost Bank Big Bucks

A former client of Stradley Ronon Stevens & Young sued the Philadelphia-based law firm on Monday, contending that errors in documenting some $200 million in loans to a subprime lender cost a bank involved in making the loans millions of dollars. After the subprime lender, Taylor Bean & Whitaker Mortgage Corp., filed a Chapter 11 bankruptcy in 2009, the law firm's client, Sovereign Bank,...